GCL, Shell plan China LNG trading venture

GCL Oil & Natural Gas has entered into a framework deal with Shell to market and trade LNG in eastern China.

Under the deal, the privately-owned Chinese company and the Hague-based Shell will look into forming a venture in eastern China.

The JV would secure LNG from Shell and market it to an import facility which GCL is planning in Jiangsu.

GCL aims to build three LNG import terminals with a total capacity of 14.5 mtpa along China’s east coast.

These are Yantai in Shandong province, Rudong in Jiangsu and Maoming in Guangdong.

Ajay Shah, vice president of Shell Energy Asia said that China has the fastest growing demand for natural gas.

Shell is “keen to play a significant role in its development,” he said.

The energy giant is already one of the biggest LNG importers in China.

“We are excited to explore opportunities downstream to directly deliver LNG and gas to the customers premises, in partnership with a leading local partner like GCL,” he said.

“We look forward to more such opportunities that can enable us to better serve Chinese customers and meet the country’s long-term need for more and cleaner energy,” Shah added.

- Advertisements -

Most Popular

Shell to shrink executive committee

LNG giant Shell is to reduce the size of its executive committee from nine to seven members in a...

Tellurian secures one more month to fulfill Gunvor LNG supply deal

Tellurian, the developer of the Driftwood LNG export project in Louisiana, has secured one more month to meet the...

Greece backs Motor Oil’s FSRU project

Greece is backing the construction of Motor Oil's planned Dioriga Gas FSRU project near Corinth worth about 340 million...

More News Like This

Shell to shrink executive committee

LNG giant Shell is to reduce the size of its executive committee from nine to seven members in a...

GasLog Partners extends LNG carrier charter deals with Shell and Cheniere

NYSE-listed LNG shipping firm GasLog Partners has extended charter deals for its vessels with LNG giant Shell and US...

Shell delivers first carbon-neutral LNG cargo under GIIGNL’s framework

LNG giant Shell has delivered the ‎first carbon-neutral LNG cargo to Taiwan’s CPC Corporation using GIIGNL's framework for emissions. Back...

Europe now has 635 LNG fueling stations

European network of liquefied natural gas (LNG) fueling stations for vehicles reached 635 stations, as it continues to grow...