The U.S. energy giant ExxonMobil signed a sales and purchase agreement with China's Zhejiang Provincial Energy Group for the supply of LNG over a 20 year period, the company announced Wednesday.
Under the agreement, Zhejiang Energy is expected to receive 1 million metric tons per annum of LNG.
Peter Clarke, senior vice president of LNG at ExxonMobil said the sales and purchase agreement represents an important milestone in the strategic partnership with Zhejiang Provincial Energy Group.
“We look forward to continuing our support for Zhejiang Energy during the construction, commissioning and operation of its Wenzhou LNG receiving terminal," he added.
According to ExxonMobil, the U.S. company has been actively engaged in China’s energy industry since the late 1970s.
With a long-term commitment to China, ExxonMobil expects to help meet China’s energy needs through its products, technologies, partnerships and investments.
By Murat Temizer