Sembcorp Signs LNG Sale and Purchase Agreement with Chevron

Singapore - 5 December 2024

Sembcorp Industries (Sembcorp) today announces that its wholly-owned subsidiary, Sembcorp Fuels (Singapore) Pte Ltd, has signed a Sale and Purchase Agreement (SPA) with Chevron U.S.A. Inc. (Singapore Branch) (Chevron) to import up to 0.6 million tonnes of liquefied natural gas (LNG) per annum.

The LNG delivery is expected to commence from 2028 for a tenure of 10 years.

The SPA will further strengthen Sembcorp's existing natural gas supply portfolio from diversified piped and liquefied sources globally. As a key natural gas importer for Singapore, Sembcorp is committed to supporting the country with a stable and resilient supply of energy.

The signing of the SPA 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 December 31, 2024.

About Sembcorp Marine
Sembcorp Marine Ltd provides innovative engineering solutions to the global offshore, marine and energy industries. Headquartered in Singapore, the Group has close to 60 years of track record in the design and construction of rigs, floaters, offshore platforms and specialised vessels, as well as in the repair, upgrading and conversion of different ship types. Sembcorp Marine's diversified portfolio of products and solutions cover Renewables, Process, Gas, Ocean Living and Advanced Drilling Rigs with a growing focus on sustainable solutions that advance the global energy transition and maritime decarbonisation.

As a premier global player offering offshore renewables, new energy, and cleaner offshore & marine solutions, Sembcorp Marine is committed to delivering high standards of safety, quality, and performance to its customers who include major energy companies, owners of floating production units, shipping companies and cruise and ferry operators. The Group's businesses are supported by four commercial units: Rigs & Floaters; Repairs & Upgrades; Offshore Platforms and Specialised Shipbuilding.

Sembcorp Marine operates shipyards and other facilities in Singapore, Brazil, China, Indonesia, Japan, Philippines, Norway, the United Kingdom and the United States. Discover more at www.sembmarine.com.

Sembcorp Marine press release