China’s Zhejiang Hangjiaxin Clean Energy has signed a framework agreement with Russian energy company Novatek’s Asian subsidiary for a long-term LNG supply deal, the Chinese city gas distributor said Dec. 2. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Under the agreement, Novatek will ship LNG cargoes to the Hibiki LNG receiving terminal owned by Saibu Gas in Kyushu, Japan, and Hangjiaxin will then ship the LNG to its Jiaxing LNG terminal in eastern Zhejiang province using small and medium-sized LNG vessels, Hangjiaxin said in an announcement on its social media platform. This innovative trade model opens up new opportunities for using small and medium-sized LNG vessels to supply the Jiaxing LNG terminal, Hangjiaxin said. Further details on volume, price and delivery periods were not available at the framework agreement stage, market sources said. The business model is notable for its use of the Japanese […]