Shell agrees term lease of PipeChina’s LNG receiving terminals

Shell agrees term lease of PipeChina's LNG receiving terminals
The logo of British multinational oil and gas company Shell is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, Jul 12, 2023. (File Photo: REUTERS/Chris Helgren)

SINGAPORE: Shell said on Friday (Jul 28) it has agreed to lease liquefied natural gas (LNG) receiving terminals operated by state energy infrastructure firm PipeChina under a medium- and long-term basis.

Shell is the first international oil and gas major to sign such an agreement with PipeChina, it said on the official WeChat account of its China unit.

The statement did not provide detail on when the lease would begin, its duration or the capacity of gas it would handle.

In early 2021 Shell became one of the first global gas players qualified to use PipeChina’s terminal facilities, the company added.

Established in late 2019, PipeChina operates seven LNG terminals along China’s eastern and southern coast with a total annual capacity of nearly 28 million metric tonnes.

Source: Reuters/px