Sembcorp Industries inks 10-year LNG supply deal with Chevron's Singapore unit (updated)

Sembcorp Industries

05/12/2024 19:53

(Adds Chevron comment in paragraph 4)
       Dec 5 (Reuters) - Sembcorp Industries  SCIL.SI  on
Thursday said its Sembcorp Fuels unit signed a deal with Chevron
USA's  CVX.N  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)
 ((Roshan.Thomas@thomsonreuters.com;))