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

Reuters
05 Dec 2024
Sembcorp Industries inks 10-year LNG supply deal with Chevron's Singapore unit

Dec 5 (Reuters) - Sembcorp Industries SCIL.SI on Thursday said its unit, Sembcorp Fuels 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.

Shares of Sembcorp closed 2.73% higher at 1022 GMT.

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

((Roshan.Thomas@thomsonreuters.com;))

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