South Korea’s S-Oil inks 15-year LNG supply deal with Petronas

South Korea's S-Oil inks 15-year LNG supply deal with Petronas
Illustration purposes only (Image courtesy of Petronas)

South Korean energy company S-Oil has signed a 15-year liquefied natural gas supply deal with the Malaysian LNG giant Petronas. 

According to a company’s filing to the stock exchange, deliveries under the contract are set to start in April 2018 until March 2033.

Petronas has agreed to deliver 700,000 tons of LNG per year for the duration of the contract.

The LNG volumes delivered by Petronas have been contracted to cover the company’s demand for the fuel that is increasing with the expansion of its facilities.

Although S-Oil declined to disclose the contract value, it has said in its filing that it has “taken advantage of the favorable LNG market conditions.”

Share this article

Follow LNG World News

Events>

<< Jul 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

LNG Pricing, Trading & Hedging Singapore

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

LNG Pricing, Trading & Hedging Houston

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >