Chevron inks new LNG agreement with GS Caltex
Chevron U.S.A. Inc, a wholly owned subsidiary of Chevron Corp, said it has signed a sales and purchase agreement with GS Caltex Corporation for the delivery of liquefied natural gas (LNG) to South Korea from Chevron’s global supply portfolio.
As a joint venture between Chevron and GS Energy, GS Caltex has signed a long-term agreement and will begin receiving LNG in October 2019.
Chevron’s President of Global Gas, Hugh Connett stated the agreement is another indication of the significance of the long-standing relationship between Chevron and GS Caltex.
“We’re proud of our partnership with GS Caltex and we welcome this opportunity to build on that relationship by supplying LNG to South Korea’s growing market,” Connett said.
Chevron has an existing LNG sales and purchase agreement with GS Caltex executed in 2009.
Chevron Corporation is one of the world's leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company's operations. Chevron is based in San Ramon, Calif.