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Brief -- Chevron U.S.A. Inc.

Chevron U.S.A. Inc. has signed a binding liquefied natural gas (LNG) sales and purchase agreement (SPA) with ENN LNG Trading Co. Ltd. for the delivery of LNG to China from Chevron's global supply portfolio. Under the terms of the SPA, ENN will receive up to 0.65 million metric tons per annum (mtpa) of LNG over 10 years, with the first delivery expected to start in 2018 or the first half of 2019. ENN LNG Trading is a unit of ENN Energy Holding Ltd., which is one of the largest natural gas distribution companies in China. ENN Energy Holdings Ltd. operates in 150 cities across 17 provinces and autonomous regions, with more than 12 million residential and 56 thousand industrial/commercial customers. ENN LNG Trading's Zhoushan LNG receiving terminal is under construction and expected to be in operation by 2018. The SPA delivery requirements are expected to be fulfilled, in at least in part, by Chevron's Australian LNG interests at Gorgon, Wheatstone and the North West Shelf.

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