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.

Most Popular

Yang Ming books LNG-powered containerships in South Korea

Taiwan’s Yang Ming Marine Transport has decided to order LNG dual-fuel container vessels from South Korea's Hanwha Ocean as part of its ongoing fleet optimization plan.

Sabah to take stake in Petronas’ third FLNG

SMJ Energy, owned by the Sabah government, has signed a heads of agreement with Malaysian energy giant Petronas to take a 25 percent stake in the latter's third floating LNG production unit.

Japan’s LNG imports drop in June

Japan’s liquefied natural gas (LNG) imports dropped by 2.8 percent in June compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.

More News Like This

South Korea gets first LNG Canada cargo

The 174,000-cbm GasLog Glasgow, which is carrying the first liquefied natural gas cargo produced at the Shell-led LNG Canada facility in Kitimat, has arrived in Tongyeong, South Korea, according to shipping data.

LNG Canada to send third cargo

Shell-led LNG Canada is expected to soon ship the third cargo of liquefied natural gas from the Kitimat facility, according to shipping data.

Victrol: LNG London hits bunkering milestone

The Shell-chartered inland bunkering vessel LNG London, owned by a joint venture of Belgium's Victrol and France's Sogestran, has reached a new operational milestone.

Monadelphous scores new LNG contracts

Australian engineering firm Monadelphous has secured contracts for Shell's Crux natural gas project offshore Western Australia and the Australia Pacific LNG project in Queensland.