Gazprom Marketing & Trading Singapore (GM&T Singapore), a wholly-owned subsidiary of Gazprom, has signed a sale and purchase agreement with Korea Gas Corporation, South Korea’s largest natural gas company.
Under the agreement, GM&T Singapore will supply up to eight cargoes of Liquefied Natural Gas per annum to KOGAS in 2013 and 2014, totalling up to 1 million tonnes over the two years. The supply will come from GM&T’s diversified portfolio.
Vitaly Vasiliev, Chief Executive Officer of GM&T, said: “As the largest LNG importer in the world, KOGAS is a key strategic partner of Gazprom and we are very pleased to have concluded this medium-term agreement that extends our well-established relationship.”
Mr Frédéric Barnaud, Executive Director for LNG & Shipping, added: “This agreement also provides a good basis for further expansion of our commercial portfolio and realising our ambition to be the leading LNG marketer in Asia Pacific. We look forward to partnering with other major energy players in the region willing to build and maintain a secure supply of energy, and meeting the growing demand for LNG in Asia Pacific.”
LNG World News Staff, October 09, 2012; Image: KOGAS