Guangdong Pearl River agrees to LNG purchase deal with ConocoPhillips
Guangdong Pearl River Investment Management Group said on Wednesday it has signed a 15-year sales and purchase agreement to buy liquefied natural gas (LNG) from ConocoPhillips.
The company did not disclose the volume of LNG covered under the agreement, which was signed on the sidelines of the World Gas Conference.
One source with knowledge of the deal said ConocoPhillips will supply 300,000 metric tpy of LNG from 2028.
A ConocoPhillips spokesperson said the company is not sharing details of the agreement. Pearl River Investment declined to comment.
Pearl River Investment is one of the investors in the Huizhou LNG receiving terminal, which is led by Guangdong Energy.
The company also operates power plants and electricity distribution networks in the country, according to its website.
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