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>

<< Mar 2019 >>
MTWTFSS
25 26 27 28 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

6th Mozambique Gas Summit & Exhibition

The CWC Group and ENH would like to thank all attendees, speakers, sponsors and exhibitors…

read more >

LNG2019

LNG2019 is presented by the IGU, GTI and IIR, supported by the Shanghai Government and hosted by China LNG Association…

read more >

CWC World Gas & Power Series – Brazil & the Americas Summit

Meet with the Gas, LNG & Power Industry in Brazil & the Americas

read more >

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >