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Zhejiang Energy Group pens LNG supply agreement with ExxonMobil

Chinese energy enterprise, Zhejiang Energy Group has inked a sales and purchase agreement with ExxonMobil for liquefied natural gas (LNG) supply over a period of 20 years.

Under the agreement Zhejiang Energy is to receive 1m metric tons LNG annually from ExxonMobil.

This agreement represents an important milestone and provides a solid foundation for our strategic partnership with Zhejiang Energy Group, said Peter Clarke, senior vice president of LNG at ExxonMobil. ExxonMobil expects to continue the support for Zhejiang Energy during the construction, commissioning and operation of its Wenzhou LNG receiving terminal, Clarke added.

Zhejiang Energy is currently building a LNG receiving terminal in the city of Wenzhou, which is jointly developed by the company and Sinopec. The project started construction in 2018 and was scheduled for delivery in 2021.

The first phase project include one LNG terminal which can handle LNG carriers up to 266,000 cu m, four LNG storage tanks and 15 km pipeline (8.5 km submarine pipeline and 6.5 km land pipeline), with a designed receiving capacity of 3m tons.

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