Guangdong Pearl River agrees LNG purchase deal with ConocoPhillips
FILE PHOTO: A screen displays the logo for ConocoPhillips on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 6, 2022. REUTERS/Brendan McDermid/File Photo
BEIJING :Guangdong Pearl River Investment Management Group said on Wednesday it has signed a 15-year sales and purchase agreement to buy liquefied natural gas from ConocoPhillips.
The company did not disclose the volume of LNG covered under the agreement, which was signed on the sidelines of the World Gas Conference.
One source with knowledge of the deal said ConocoPhillips will supply 300,000 metric tons per year of LNG from 2028.
ConocoPhillips and Pearl River Investment did not immediately respond to a request for comment.
Pearl River Investment is one of the investors in the Huizhou LNG receiving terminal, which is led by Guangdong Energy.
The company also operates power plants and electricity distribution networks in the country, according to its website.
