Exxonmobil Signs 20-year LNG Agreement With Zhejiang Energy

  • Zhejiang Energy to receive 1 million metric tons of LNG per annum over 20 years
  • Agreement demonstrates ExxonMobil's commitment to help meet China's natural gas demand
  • Zhejiang Energy to build a Wenzhou LNG receiving terminal

ExxonMobil said today that it signed a sales and purchase agreement with Zhejiang Provincial Energy Group for liquefied natural gas (LNG) supply. Under the agreement, Zhejiang Energy is expected to receive 1 million metric tons per annum of LNG over 20 years.

“This sales and purchase agreement represents an important milestone and provides a solid foundation for our strategic partnership with Zhejiang Provincial Energy Group,” said Peter Clarke, senior vice president of LNG at ExxonMobil.

“ExxonMobil shares Zhejiang Energy’s vision in developing a major LNG gateway in the Ningbo-Zhoushan region,” Clarke said. “We look forward to continuing our support for Zhejiang Energy during the construction, commissioning and operation of its Wenzhou LNG receiving terminal."

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ExxonMobil has been actively re-engaged in China’s energy industry since the late 1970s. With a long-term commitment to China, ExxonMobil expects to help meet China’s energy needs through its products, technologies, partnerships and investments.

Source: ExxonMobil
Date: Apr 22, 2019