ENGIE has signed an agreement with Beijing Enterprise Group (BEG) to supply LNG to Beijing City and to expand cooperation.
The Chinese and French Prime Minister’s Li Keqiang and Manuel Valls were present at the signing ceremony.
Under the terms of the agreement, ENGIE will provide BEG with two LNG carriers to meet Beijing City’s natural gas needs in winter. The first delivery will be in November 2015 and the second in January 2016. ENGIE and BEG have also stated that they are willing to make co-investment and carry out cooperation in some major energy projects in China. ENGIE is also willing to accompany the international development of BEG. The two parties will indentify some natural gas liquefaction projects in third party countries.
The LNG Supply Contract and Expand Cooperation Agreement is the consolidation of the two groups’ bilateral cooperation agreements signed in 2014 and 2015.
Edited from press release by Callum O'Reilly