KUALA LUMPUR: Petroliam Nasional Bhd’s (Petronas) subsidiary, Petronas LNG Ltd, will be supplying up to 700,000 tonnes of liquefied natural gas (LNG) annually for 15 years to South Korea-based S-Oil Corp.
Petronas LNG said in a statement it entered into the 15-year sale and purchase agreement today to deliver LNG to petroleum, petrochemical and lubricant products producer S-Oil beginning next year. The contract sum was not disclosed.
S-Oil will use the LNG from Petronas as fuel for its new plant operations and feedstock for hydrogen production.
“This SPA is testament to Petronas’ focus in building long-term relationships with committed partners. Petronas looks forward to create further value with S-Oil to ensure that we can deliver the most value-comprehensive solution. To date, we have delivered cargoes without fail and will continue to ensure security of supply and reliability to all of our buyers,” said Petronas LNG chairman Ahmad Adly Alias.
Source: The Sun Daily