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Shell to supply LNG to China in 20-yr deal -Xinhua

Reuters

BEIJING, Nov 24 (Reuters) – Royal Dutch Shell Plc (RDSa.L: QuoteProfile,ResearchStock Buzz) has agreed to sell an annual two million tonnes of liquefied natural gas to China in a 20-year deal, China’s official Xinhua news agency reported on Monday, citing Shell’s China unit.

 

The agreement was signed between the oil giant and PetroChina International Co., a wholly-owned subsidiary of PetroChina Co Ltd (0857.HK: QuoteProfile,ResearchStock Buzz), Asia’s top oil and gas producer, Xinhua said.

Part of the supplies to PetroChina would be tapped from the proposed Gorgon gas project off Western Australia, Xinhua said.

No other details were provided.

Shell has a 25 percent stake in the multi-billion dollar project as does Exxon Mobil (XOM.N: QuoteProfileResearchStock Buzz). U.S. energy giant Chevron Corp (CVX.N: QuoteProfileResearchStock Buzz) operates and holds a 50 percent stake in the project.

(Reporting by Ian Ransom; Editing by James Jukwey)

 

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