Report: ExxonMobil inks 20-year China LNG supply deal

For illustration purposes only (Image courtesy of ExxonMobil)

US energy giant ExxonMobil has reportedly signed a framework agreement to supply liquefied natural gas (LNG) to China’s Zhejiang Provincial Energy Group.

Under the deal, the Chinese company will receive 1 million tonnes of LNG per annum for 20 years, Reuters reported on Thursday.

The LNG deliveries are expected to start in the early 2020s, the report said.

This is Zhejiang Energy’s first long-term LNG supply deal.

LNG supplies to China would come from a combination of ExxonMobil’s global portfolios – not necessarily from the United States – as the company boosts output from Papua New Guinea and Mozambique, according to the report.

State-owned Zhejiang Energy is a coal producer and utilities operator, and formed a joint venture earlier this year with trader Glencore to trade energy products including LNG.

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