Sembcorp, Chevron sign LNG sale and purchase deal

It will commence in 2028.

Sembcorp Industries, through its wholly-owned subsidiary Sembcorp Fuels (Singapore) Pte Ltd, has signed a 10-year liquefied natural gas (LNG) sale and purchase agreement with Chevron U.S.A. Inc. (Singapore Branch).

In a bourse filing, Sembcorp said the agreement involves the importation of up to 0.6 million tonnes of LNG per annum. The delivery is expected to commence from 2028.

The SPA is seen to strengthen Sembcorp’s existing natural gas supply portfolio from diversified piped and liquefied sources globally.

The transaction is in the ordinary course of business and is not expected to have a material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending 31 December 2024.