Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Shell agrees term lease of PipeChina's LNG receiving terminals

Published 28/07/2023, 10:45
© Reuters. FILE PHOTO: The logo of British multinational oil and gas company Shell is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo

SINGAPORE (Reuters) - Shell PLC (LON:SHEL) said on Friday it has agreed to lease liquefied natural gas (LNG) receiving terminals operated by state energy infrastructure firm PipeChina under a medium- and long-term basis.

Shell is the first international oil and gas major to sign such an agreement with PipeChina, it said on the official WeChat account of its China unit.

The statement did not provide detail on when the lease would begin, its duration or the capacity of gas it would handle.

In early 2021 Shell became one of the first global gas players qualified to use PipeChina's terminal facilities, the company added.

Established in late 2019, PipeChina operates seven LNG terminals along China's eastern and southern coast with a total annual capacity of nearly 28 million metric tons.

 

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.