UPDATE 1-Sembcorp Industries inks 10-year LNG supply deal with Chevron’s Singapore unit

Author Logo | Thu, 05 Dec 2024 19:53:15 GMT

(Adds Chevron comment in paragraph 4)

Dec 5 (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. (Reporting by Roshan Thomas in Bengaluru; Editing by Tasim Zahid)

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