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Chevron and Sembcorp have agreed to an LNG sale and purchase agreement for the import of up to 0.6 million tonnes per annum to Singapore, Sembcorp said in a Dec. 5 press release.
Chevron USA Inc. signed the SPA with Sembcorp Industries’ wholly owned subsidiary Sembcorp Fuels Pte Ltd. for a duration of 10 years starting in 2028.
The agreement strengthens Sembcorp’s natural gas supply portfolio with global and diverse piped and liquefied sources and Chevron’s ability to deliver lower carbon energy, Sembcorp and Chevron said.
“This new long-term agreement underscores our commitment to delivering affordable, reliable, ever-cleaner energy that meets the needs of our valued customers while advancing energy security and emissions reduction goals,” said Freeman Shaheen, president of Chevron Global Gas, in an emailed statement to Hart Energy.
The SPA is not expected to have a material impact on Sembcorp’s earnings per share and net tangible assets per share for the financial year ending Dec. 31, Sembcorp said.
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