Chevron Inks 10 Year Deal to Supply LNG to China's ENN LNG Trading

Chevron Corp. announced Monday that its wholly-owned subsidiary, Chevron U.S.A. Inc., has signed a binding liquefied natural gas (LNG) Sales and Purchase Agreement (SPA) with China's ENN LNG Trading Co. Ltd. (ENN) to deliver up to 0.65 metric tons per annum (Mtpa) of LNG over 10 years commencing 2018 or first half of 2019.

"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," Mike Wirth, executive vice president, Chevron Midstream and Development said in the press release.

He added that the "SPA further demonstrates our work to expand our customer base, our strong customer relationships and our commitment to partnerships around the world."

Chevron plans to tap gas supplies from its LNG portfolio, including Australia's Gorgon, Wheatstone and the North West Shelf developments. The gas is expected to be supplied to ENN’s Zhoushan LNG receiving terminal, which is being constructed and expected to be in operation by 2018.

ENN is one of the units of ENN Energy Holding Ltd., one of the largest natural gas distribution firms in China, with operations in 150 cities across 17 provinces and autonomous regions and serving over 12 million residential and 56,000 industrial/commercial customers.

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