Global oil and gas company ExxonMobil has signed a 20-year sales and purchase agreement with the Chinese firm Zhejiang Provincial Energy Group, to deliver 1 Mt/year of LNG to the Chinese company. LNG supplies will come from ExxonMobil's portfolio production outside the United States. Even though ExxonMobil plans to deliver LNG supplies in the early 2020s, the agreement did not give details on price or timing, or mention where the supplies will be sourced. Zhejiang Provincial Energy Group is currently building a new 3 Mt/year (4.1 bcm/year) LNG receiving terminal in Wenzhou (eastern China), which should be commissioned in 2021.
Recently, ExxonMobil has been expanding its LNG portfolio, sourced from upcoming projects in Mozambique (MLNG), Papua New Guinea (PLBG), Qatar and Golden Pass in the United States. The company already has two long-term LNG supply agreements in China, one with Sinopec and the other one with the state-run oil and gas producer CNPC.