Caixin
Oct 19, 2018 05:48 PM
BUSINESS & TECH

Exxon Mobil Fires Up New Gas-Supply Deal as Winter Looms

Last year, China's liquid natural gas consumption rose by 46% to 38.13 million metric tons, allowing China to surge past South Korea to become the world’s second-largest importer. Photo: VCG
Last year, China's liquid natural gas consumption rose by 46% to 38.13 million metric tons, allowing China to surge past South Korea to become the world’s second-largest importer. Photo: VCG

Exxon Mobil Corp. has capitalized again on China’s ballooning demand for liquefied natural gas (LNG) as Beijing tries to clean up its energy act, even as concerns remain over difficulties handling major new supplies amid a rapid switchover from traditional coal.

The international energy giant announced it has signed a deal to supply state-owned Zhejiang Energy Group with 1 million metric tons of LNG a year for the next 20 years, according to a statement (link in Chinese) on Thursday.

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