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A UNIT of Singapore's Keppel Corp has signed a long-term gas supply agreement with ExxonMobil worth more than three billion Singapore dollars (S$3 billion), Keppel said on Tuesday.
Under the deal, Keppel Gas Pte. Ltd. will supply natural gas to the US energy giant's facilities on Jurong island, including a second petrochemical complex currently under construction.
'The gas supply will commence in 2009 and the total contract value is expected to be more than three billion Singapore dollars over the contract period, based on the current energy prices,' Keppel said in a statement.
The duration of the contract was not disclosed.
Keppel Gas, a subsidiary of Keppel Energy Pte Ltd, signed the contract with ExxonMobil Asia Pte Ltd Keppel Energy is a wholly-owned subsidiary of diversified conglomerate Keppel Corp.
'We are pleased to be supplying gas to ExxonMobil and to build a long-term business relationship with the world's largest publicly traded international oil and gas company,' Keppel Energy managing director Ong Tiong Guan said.
US-based ExxonMobil is the world's biggest energy company. -- AFP
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