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    Petronas Strikes LNG Sales Deal with Korean Utility

Summary

The five-year deal is for the annual supply of 240,000 mt/yr of LNG.

by: Joseph Murphy

Posted in:

Natural Gas & LNG News, Asia/Oceania, Liquified Natural Gas (LNG), Corporate, Import/Export, Contracts and tenders, News By Country, Malaysia, South Korea

Petronas Strikes LNG Sales Deal with Korean Utility

Malaysia’s Petronas has struck a deal to sell 240,000 mt/yr of LNG to South Korean utility Korea Midland Power.

The five-year agreement will begin in 2020 on a delivered ex-ship basis, requiring Petronas to assume costs and risks for transporting the supplies to South Korea, the Malaysian firm said on October 9, according to Malaysian media.

“We are pleased to build a relationship with Komipo, one of South Korea’s largest power generation companies, and increase our customer base in the region,” Petronas’ vice president for LNG marketing and trading, Ahmad Adly Alias, commented. He added the deal showcased Petronas’ “growing capabilities to provide clean energy solutions as a partner for a sustainable future.”