ExxonMobil Secures 20-Year Access to Guangdong Energy's LNG Terminal [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance
Exxon Mobil Corporation XOM has signed an agreement with Guangdong Energy Group in Chinato to use its new LNG receiving terminal for 20 years. The $1 billion LNG receiving terminal is located in Huizhou in the Guangdong province. This terminal is expected to begin commercial operations in the upcoming week, per Reuters. The LNG terminal has the capacity to handle 4 million metric tons of liquefied natural gas per year. Furthermore, for trial operations, the terminal has received its initial cargo from the UAE in the past month. Expansion of ExxonMobil's Global LNG Operations An ExxonMobil representative in China has confirmed that the company had entered into a 20-year agreement with Guangdong Energy to utilize the new LNG terminal, in December last year. The company, however, had not made any announcement regarding the matter. According to sources, XOM will use the terminal to handle 1.8 million tons of LNG per year. The sources also mentioned that the agreement does give th
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News
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XOM
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- 9/25/24 - Form SD
- 8/14/24 - Form 4
- 8/5/24 - Form 10-Q
- XOM's page on the SEC website