Chinese firm secures LNG supply from Mexico Pacific
Chinese state-owned gas supplier Guangzhou Development Group (GDP) reported on April 1 it had signed a 20-year deal for 2mn metric tons of annual LNG supply from Mexico Pacific LNG Markets.
The Shanghai-listed firm said that the contract would come into force when Mexico Pacific's 14.1mn mt/yr West Coast North American LNG project in Sonora, Mexico, was up and running. GDP will take 1mn mt/yr of LNG from the project's first and second phases, with the volumes priced on a formula tied to the US Henry Hub index. Feedstock gas for the project will come from the US.
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GDP supplies gas and power in China's southeast coastal Guangdong province.