Zhejiang Energy entered into a 20-year Sales and Purchase Agreement (SPA) with ExxonMobil. Under the SPA, ExxonMobil will supply one million metric tons of liquified natural gas (LNG) to Zhejiang each year for the next two decades.
In order to accept the LNG, Zhejiang is building a receiving terminal in China.
According to ExxonMobil’s Senior Vice President of LNG, Peter Clarke, “ExxonMobil shares Zhejiang Energy’s vision in developing a major LNG gateway in the Ningbo-Zhoushan region. We look forward to continuing our support for Zhejiang Energy during the construction, commissioning and operation of its Wenzhou LNG receiving terminal.”
This SPA further demonstrates ExxonMobil’s commitment to supporting China to meet its energy needs.
