Sembcorp Secures 10-Year LNG Deal with Chevron's Singapore Unit
(Reuters) — Sembcorp Industries on Thursday said its Sembcorp Fuels unit signed a deal with Chevron USA's Singapore unit to import up to 0.6 million tonnes of liquefied natural gas (LNG) annually starting in 2028.
The Singaporean state-owned energy and urban development company said the deal will ensure a stable and diversified energy supply for the city-state.
"The signing of the sale and purchase agreement is in the ordinary course of business and is not expected to have a material impact on the earnings per share," the company said.
Freeman Shaheen, president of Chevron Global Gas, said the agreement "underscores our commitment to delivering affordable, reliable, ever-cleaner energy that meets the needs of our valued customers.”
Shares of Sembcorp closed 2.73% higher at 1022 GMT.
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