Sembcorp Industries inks 10-yr LNG supply deal with Chevron's Singapore unit

12/6/2024

Sembcorp Industries said its Sembcorp Fuels unit signed a deal with Chevron USA's Singapore unit to import up to 0.6 MMtpy LNG 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.”