US gas and electric utility says it is working with ExxonMobil to upgrade its gas and electricity supplies
The US Department of Energy (DOE) has approved the company’s purchase of gas and electrical equipment for the U.S. gas and power sector, Reuters reported.
The approval of the $1.4 billion deal from ExxonMobil Corp follows the release of the company to Exxon Mobil Corp’s board on Friday.
It is the first step in the company buying gas from independent gas companies.
The DOE also granted ExxonMobil’s request for an expedited permitting process for the deal.
ExxonMobil CEO Rex Tillerson said the deal was a “good day” for the United States.
“We are pleased to have reached a definitive agreement with Exxon Mobil for our purchase of equipment for our U.N. natural gas projects, and we look forward to continuing our partnership with the company,” Tillerson said in a statement.
Tillerson said the purchase was a way to help ensure the U,S.
met its global greenhouse gas emissions targets.
The company also said it would work with the U-N on “the development of a global strategy to limit global warming.”