ExxonMobil has 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.
Zhejiang Energy to receive 1 million metric tons of LNG per annum over 20 years
“This sales and purchase agreement represent 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.
Agreement demonstrates ExxonMobil’s commitment to help meet China’s natural gas demand
“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.”
Zhejiang Energy to build a Wenzhou LNG receiving terminal
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.
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is the largest refiner and marketer of petroleum products, and its chemical company is one of the largest in the world.