Exxonmobil Signs 20 Year LNG Agreement with Zhejiang Energy

ExxonMobil, the largest publicly traded global oil and gas firm, today said it has signed a sales and purchase agreement 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.

“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.

He added that ExxonMobil shares Zhejiang Energy’s vision in developing a major LNG gateway in the Ningbo-Zhoushan region and it looks forward to continuing support for Zhejiang Energy during the construction, commissioning and operation of its Wenzhou LNG receiving terminal.

ExxonMobil has been engaged in China’s energy industry since the late 1970s. The company said it expects to help meet China’s energy needs through its products, technologies, partnerships and investments.