China’s GCL, Shell sign preliminary deal on LNG trading joint venture
GCL Oil& Natural Gas Co Ltd has entered a framework agreement with Royal Dutch Shell to explore setting up a joint venture based in eastern China to market and trade liquefied natural gas (LNG), the privately owned Chinese company said on Tuesday.
The proposed JV would secure LNG supplies from Shell and market the fuel to a receiving terminal which GCL is planning in Jiangsu province, GCL said in a statement.
A Shell spokeswoman confirmed the agreement.
The companies provided no further details.
Source: Reuters (Reporting by Chen Aizhu; editing by Jason Neely)