New York (CNN Business)China is turning to ExxonMobil to help meet its insatiable appetite for cleaner energy as the country moves away from coal.
Despite lingering trade tensions between Washington and Beijing, Exxon (XOM) on Monday announced a 20-year agreement to send liquefied natural gas to China.
The deal calls for China’s Zhejiang Provincial Energy Group to purchase 1 million metric tons of LNG per year from Exxon, America’s largest energy company. Exxon did not say whether the LNG, which is super-cooled natural gas that can be shipped, will come from the United States or one of its overseas projects.
