US energy major ExxonMobil signed a sales and purchase deal 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, ExxonMobil said in its statement on Monday.
“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,” he added.