Sembcorp unit signs 10-year LNG supply deal with Chevron
The delivery of about 0.6 million tonnes of liquefied natural gas a year is expected to start in 2028
Add BT as a preferred source
A SEMBCORP Industries wholly-owned subsidiary, Sembcorp Fuels, has signed a 10-year sale-and-purchase agreement with oil major Chevron Corp for about 0.6 million tonnes of liquefied natural gas (LNG) each year.
Delivery is expected to commence in 2028, said the group in a bourse filing on Thursday (Dec 5).
It said its agreement with Chevron will strengthen its existing natural gas supply portfolio of piped and liquefied sources from across the world. “As a key natural gas importer for Singapore, Sembcorp is committed to supporting the country with a stable and resilient supply of energy.”
The group does not expect the sale-and-purchase agreement to have a material impact on its earnings per share and net tangible assets per share for the financial year ending Dec 31.
Shares of Sembcorp closed at S$5.65 on Thursday, up 2.7 per cent or S$0.15, before the news.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Firm loses wrongful dismissal case despite following termination clause
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Soilbuild’s Lim Chap Huat sues Brookfield, claims it reneged on joint venture: WSJ
Citi, OCBC downgrade UOB post-Q2 results; RHB upgrades on valuation
