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ExxonMobil Signs 20-year LNG Deal With Zhejiang Energy - Quick Facts

Exxon Mobil Corp. (XOM) said Monday it has signed a sales and purchase agreement with Zhejiang Provincial Energy Group for liquefied natural gas or LNG supply, noting that the agreement demonstrates it's commitment to help meet China's natural gas demand.

Under the agreement, Zhejiang Energy is expected to receive 1 million metric tons per annum of LNG over a period of 20 years. Zhejiang Energy will build a Wenzhou LNG receiving terminal.

"ExxonMobil shares Zhejiang Energy's vision in developing a major LNG gateway in the Ningbo-Zhoushan region. We look forward to continuing our support for Zhejiang Energy during the construction, commissioning and operation of its Wenzhou LNG receiving terminal," said Peter Clarke, senior vice president of LNG at ExxonMobil.

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