TELETRADER News
7/5, 11:38 AM (Source: TeleTrader)
more TeleTrader news

China Gas, US firm sign 20-year LNG deal

China Gas Holdings Limited announced on Tuesday that its subsidiary China Gas Hongda Energy Trading Co. LTD has signed a 20-year liquefied natural gas (LNG) agreement with Rio Grande LNG LLC, owned by NextDecade Corporation from the United States.

According to the deal, NextDecade will provide one million tons of LNG per year to China Gas starting in 2027, while the "purchase price is indexed to the benchmark price of Henry Hub."

NextDecade Chairman and CEO Matt Schatzman described China Gas as "a leading natural gas distributor" in the People's Republic, while China Gas Chairman, Managing Director and President Liu Ming Hui said that the agreement will ensure that the company meets "the increasing demand for high quality, stable and clean energy from our customers."

Baha Breaking News (BBN) / MS