Vitol will purchase 0.5 million tons of LNG from China Gas in the US on a FOB basis and then sell the same amount on a DES basis beginning in 2029, as outlined in the agreement.
China Gas Holdings, a key player in the Chinese energy sector, strives to offer dependable, effective, and environmentally friendly LNG deliveries to its clients. The deal will broaden the LNG portfolio and enhance efficiency throughout the value chain.
The companies will look into ways to increase collaboration.
China Gas is among the top five gas suppliers in the nation, catering to around 50 million clients and reaching approximately 180 million urban and rural residents. It records annual natural gas sales of 36 billion cubic meters. Vitol transported over 17 million tons of LNG worldwide in the previous year.
source: bloomberg.com
China Gas Holdings, a key player in the Chinese energy sector, strives to offer dependable, effective, and environmentally friendly LNG deliveries to its clients. The deal will broaden the LNG portfolio and enhance efficiency throughout the value chain.
The companies will look into ways to increase collaboration.
China Gas is among the top five gas suppliers in the nation, catering to around 50 million clients and reaching approximately 180 million urban and rural residents. It records annual natural gas sales of 36 billion cubic meters. Vitol transported over 17 million tons of LNG worldwide in the previous year.
source: bloomberg.com