Glencore Singapore Signs Long-term LNG Deal with Xinte Green Energy Subsidiary
Xinte Green Energy's subsidiary, Xingang International Natural Gas Trading Co., Ltd. (Xingang Company), has signed a long-term liquefied natural gas (LNG) purchase and sales agreement with Glencore Singapore.
The deal will see Glencore supply LNG to Xingang Company for 10 years, with the gas source allocated from Glencore's global resource pool. This agreement is significant as it enriches Xinte Green Energy's LNG resource pool and consolidates its downstream gas supply guarantee capacity.
Xinte Green Energy mainly engages in natural gas sales, LNG reception, gas-fired power generation, wind power, photovoltaic, and other businesses. The company has a long-term demand for stable natural gas sources, particularly with the construction of new gas-fired power plants in North China.