Mercuria signs term LNG deal with Guangzhou Gas Group
Switzerland-based Mercuria Energy Trading has entered into a long-term LNG sales and purchase agreement (SPA) with Guangzhou Gas Group. Mercuria called the deal a "pragmatic commercial collaboration and sustainable supply chain development," but fell short of disclosing financial terms or volumes.
“This long-term agreement enhances Guangzhou Gas Group’s capacity to secure stable gas resources, optimize the local energy mix, and reduce carbon emissions — enabling high-quality regional economic development,” Mercuria said in a statement.
Though prices and volumes were not made public, Mercuria stressed this agreement enhances its role as a strategic LNG partner in China and across Asia-Pacific, consolidating the foundation of its global LNG portfolio.
SPA with Oman LNG
The latest SPA follows Mercuria’s earlier deal with Oman LNG in February, under which Oman LNG will supply the Swiss trading company with 800,000 metric tons of LNG annually over a 10-year period on a free-on-board (FOB) basis.
Earlier this month, Mercuria also sealed offtake agreement with Cowboy Clean Fuels, a Wyoming-based company specializing in renewable natural gas (RNG). The deal marks the first commercial sale of RNG produced using CCF’s proprietary biomass carbon removal and storage methodology at its Triangle Unit Project near Gillette, Wyoming.
Mercuria describes itself as one of the world’s largest independent energy and commodity groups. Over 50% of its new investments are dedicated to renewables and transitional energy.
Asian-backed Canadian Woodfibre LNG export project delays start of construction until 2018
The Canadian Woodfibre LNG export project backed by Indonesian billionaire Sukanto Tanoto and his RGE Group and the only liquefaction plant venture with full permit approvals in the Pacific province of British Columbia, said it had postponed the start of construction until 2018 when final schedules would be finalized.
Asian-backed Canadian liquefaction plant helped by Squamish Nation approving feed-gas pipeline
A Canadian LNG export project of Indonesian billionaire Sukanto Tanoto and his Singapore Pacific Oil and Gas company has been further boosted by the Squamish First Nation approving the pipeline to supply the feed-gas for the liquefaction plant aiming to ship cargoes to China.
