Chevron and ENN sign LNG sales and purchase agreement
Chevron Corp.’s wholly-owned subsidiary, Chevron USA Inc., signed a binding LNG sales and purchase agreement (SPA) with ENN LNG Trading Company Ltd. (ENN) for the delivery of LNG to China from Chevron’s global supply portfolio. Under the terms of the SPA, ENN will receive up to 650 Mtpy of LNG over 10 years, with the first delivery expected to start in 2018 or the first half of 2019.
ENN LNG Trading Company Ltd. is one of the subsidiaries 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 over 12 million residential and 56 thousand industrial/commercial customers. ENN’s Zhoushan LNG receiving terminal is being constructed and expected to be in operation by 2018.
The SPA delivery requirements are expected to be fulfilled by Chevron’s growing LNG portfolio, including the company’s Australian LNG interests at Gorgon, Wheatstone and the North West Shelf.
Comments