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

BGN delivers its first LNG cargo to Germany, secures Egypt deal

Switzerland-based energy trader BGN has completed its first LNG delivery to Germany, while simultaneously securing a deal to supply Egypt with LNG.

Excelerate’s FSRU launched in South Korea

South Korean shipbuilder HD Hyundai Heavy Industries has launched Excelerate Energy’s new floating storage and regasification unit (FSRU).

Samsung Heavy wins contract for Eni’s Coral Norte FLNG

South Korean shipbuilder Samsung Heavy has secured a preliminary contract for Eni's second FLNG project in Mozambique, Coral Norte (Coral North), according to shipbuilding sources.

More News Like This

European network of LNG stations reaches new milestone

Europe's network of liquefied natural gas (LNG) fueling stations for vehicles has surpassed 800 stations, according to Eurogas.

Former Shell CFO joins BP’s board

UK-based energy giant BP has appointed Simon Henry, Shell's former finance chief, to its board as a non-executive director.

LNG Canada sends second cargo

Shell-led LNG Canada has shipped the second cargo of liquefied natural gas from its Kitimat facility on the west coast of Canada. LNG Canada shareholder Petronas will deliver this shipment to Japan.

Shell expects ‘significantly lower’ LNG trading results in Q2

LNG giant Shell expects trading and optimization results for its integrated gas business in the second quarter of 2025 to be "significantly lower" compared to the previous quarter.