ExxonMobil eyes more 'clean fuel' opportunities
US petrochemical giant Exxon-Mobil is looking to further expand its presence in the upstream sector in China after the Texas-headquartered company signed a framework agreement to participate in a liquefied natural gas receiving terminal.
Eyeing the ever growing demand for natural gas in the nation, Exxon-Mobil signed an agreement with Guangdong province last September to potentially participate in an LNG receiving terminal, including supply of natural gas in Guangdong and a framework deal for LNG supply with Zhejiang Provincial Energy Group in October, which is expected to receive 1 million metric tons of LNG every year for 20 years starting from early 2020.
"With nearly 50 years of experience in LNG and leading energy technologies, we want to contribute what fits into China's plans," said Fernando Vallina, chairman of ExxonMobil (China) Investment Co Ltd, during an interview with China Daily.
