SAN RAMON (dpa-AFX) - Chevron Corp. (CVX) said that its wholly-owned subsidiary, Chevron U.S.A. Inc., has signed a binding LNG Sales and Purchase Agreement or SPA with ENN LNG Trading Company Limited for the delivery of liquefied natural gas or LNG to China from Chevron's global supply portfolio.
As per 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.
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.
Copyright RTT News/dpa-AFX