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Posts on ‘September 20th, 2018’

Exclusive – Shell wins LNG deal to supply Chinese firm’s power plant in Panama

A guard stands outside Anglo-Dutch oil major Royal Dutch Shell’s first gas station in Mexico City, Mexico September 5, 2017. REUTERS/Ginnette Riquelme Liz Hampton: SEPT 20, 2018 HOUSTON (Reuters) – Royal Dutch Shell Plc has won a long-term contract to provide liquefied natural gas to a Chinese company’s 441 megawatt power plant under construction in Colon, Panama, advisors on the deal said.

The $900 million (679.79 million pounds) power project, being built by Sinolam LNG affiliate Sinolam Smarter Energy LNG Power Co, expects to begin taking deliveries of the super-cooled natural gas in 2020, the advisors told Reuters late Wednesday.

The deal with a Shell trading unit comes as a trade dispute between the United States and China has put global LNG exports in the spotlight. This week, China imposed tariffs on $60 billion of U.S. goods, including a 10 percent tax on LNG imports effective Monday, in response to the U.S. slapping tariffs on some $200 billion of Chinese goods. read more

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