Oil and gas giant Shell said it has entered into a framework deal with Chinese independent company Guanghui Energy to jointly buy, import and distribute liquefied natural gas.
“ We can confirm that Shell and Guanghui have signed an Integrated Cooperation Framework Agreement (FA) under which the two parties express the intent to form a joint venture to purchase, import and on sell LNG through the Qidong terminal ,” a Shell spokesperson told LNG World News in an e-mailed statement.
Shell and Guanghui have in 2013 signed a letter of intent to set up an LNG import terminal at the Qidong port in Jiangsu province north of Shanghai.
“ Shell is not a party to the Qidong terminal ,” the spokesperson said adding that Guanghui will invest, construct and operate the LNG terminal.
LNG World News Staff; Image: Guanghui Energy