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.

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