Shell inks LNG supply deal with Taiwan’s CPC
5/16/2011 12:00:00 AM
Shell has signed a long-term agreement to supply liquefied natural gas (LNG) to Taiwan’s CPC Corp., it said on Monday. With the deal, Shell will supply 2mn tonnes/year of LNG for 20 years, starting in 2016.
The agreements were signed recently by CPC and Shell in Taipei and Singapore, respectively, and exchanged by the parties in Taipei.
This is the first long-term LNG deal between Shell and CPC, the companies said. The agreement will make Shell one the main suppliers of LNG to Taiwan.
The terms of the agreement call for CPC and Shell to work together and conclude detailed sale and purchase agreements in the coming months, the companies said.
Financial terms were not disclosed.
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