Shell, Guanghui Energy plan China LNG JV

Oil and gas giant Shell said it has entered into a framework deal with Chinese independent company Guanghui Energy to jointly buy, import and distribute liquefied natural gas.

“We can confirm that Shell and Guanghui have signed an Integrated Cooperation Framework Agreement (FA) under which the two parties express the intent to form a joint venture to purchase, import and on sell LNG through the Qidong terminal,” a Shell spokesperson told LNG World News in an e-mailed statement.

Shell and Guanghui have in 2013 signed a letter of intent to set up an LNG import terminal at the Qidong port in Jiangsu province north of Shanghai.

“Shell is not a party to the Qidong terminal,” the spokesperson said adding that Guanghui will invest, construct and operate the LNG terminal.

LNG World News Staff; Image: Guanghui Energy