Exclusive - Shell wins LNG deal to supply Chinese firm's power plant in Panama [Reuters (UK)]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
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Source: Reuters
Exclusive - Shell wins LNG deal to supply Chinese firm's power plant in Panama | Reuters 3 Min Read 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. Terms of the 15-year deal, which will meet all the fuel needs of the LNG-fueled plant, were
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