Shell agrees term lease of PipeChina's LNG receiving terminals

The logo of British multinational oil and gas company Shell is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo

SINGAPORE, July 28 (Reuters) - Shell (SHEL.L) said on Friday it has agreed to lease liquefied natural gas (LNG) receiving terminals operated by state energy infrastructure firm PipeChina under a medium- and long-term basis.

Shell is the first international oil and gas major to sign such an agreement with PipeChina, it said on the official WeChat account of its China unit.

The statement did not provide detail on when the lease would begin, its duration or the capacity of gas it would handle.

In early 2021 Shell became one of the first global gas players qualified to use PipeChina's terminal facilities, the company added.

Established in late 2019, PipeChina operates seven LNG terminals along China's eastern and southern coast with a total annual capacity of nearly 28 million metric tons.

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