Chevron and ENN Sign LNG Sales and Purchase Agreement
August 29 2016 - 4:30PM
Business Wire
Chevron to supply up to 0.65 million metric
tons of liquefied natural gas annually for 10 years
Chevron Corporation (NYSE: CVX) today announced that its
wholly-owned subsidiary, Chevron U.S.A. Inc., has signed a binding
LNG Sales and Purchase Agreement (SPA) with ENN LNG Trading Company
Limited (ENN) for the delivery of liquefied natural gas (LNG) to
China from Chevron’s global supply portfolio. Under the terms of
the SPA, ENN will receive up to 0.65 million metric tons per annum
(MTPA) of LNG over 10 years, with the first delivery expected to
start in 2018 or the first half of 2019.
This Smart News Release features multimedia.
View the full release here:
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The Asia Excellence (pictured) is one of
six new liquefied natural gas (LNG) carriers that will support
Chevron's growing global LNG business. Chevron is nearing
completion of the largest shipbuilding and fleet modernization
program in recent corporate history with the introduction of 13 new
ships to our fleet between 2013 and 2017, including the new LNG
carriers. (Photo: Business Wire)
“Chevron’s commitment to gas is clear. We’ve been in the natural
gas business for more than 100 years, and we’re positioned to
become one of the top LNG suppliers in the world,” said Mike Wirth,
executive vice president, Chevron Midstream and Development. “This
SPA further demonstrates our work to expand our customer base, our
strong customer relationships and our commitment to partnerships
around the world.”
ENN LNG Trading Company Limited 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.
Chevron Corporation is one of the world's leading integrated
energy companies. Through its subsidiaries that conduct business
worldwide, the company is involved in virtually every facet of the
energy industry. Chevron explores for, produces and transports
crude oil and natural gas; refines, markets and distributes
transportation fuels and lubricants; manufactures and sells
petrochemical products; and additives; generates power and produces
geothermal energy; and develops and deploys technologies that
enhance business value in every aspect of the company's operations.
Chevron is based in San Ramon, Calif. More information about
Chevron is available at www.chevron.com
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could cause actual results to differ materially from those in the
forward-looking statements are changes in prices of, demand for and
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Chevron CorporationErika Conner, San Ramon, +1
925-842-5297econner@chevron.com
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