Shell, Brunei Sign LNG Deal

Shell Eastern Trading Pte. Ltd., a Singapore-based trading unit of Shell, signed a 10-year agreement to buy 8 million tons of liquefied natural gas from Brunei LNG, Dow Jones reported earlier this week citing a company statement. The contract starts in April 2013, Shell said.

BLNG is joint venture which is 50% owned by the Brunei government, 25% owned by Shell and 25% by Japan's Mitsubishi Corp.

This is Shell's first long-term purchase of LNG from BLNG and from a Southeast Asia-based supplier, David Wells, Vice President at Shell International LNG Supply, said in a statement, Dow Jones said.