News

Petronas, Komipo sign 5-year LNG sale and purchase agreement

KUALA LUMPUR, Oct 9 -- Petroliam Nasional Bhd (Petronas) via its subsidiary Petronas LNG Ltd (PLL) has entered into a five-year liquefied natural gas (LNG) sale and purchase agreement (SPA) with Korea Midland Power Co Ltd (KOMIPO).

Under the SPA, KOMIPO has agreed to purchase approximately 0.24 million tonnes per annum of LNG from PLL on a delivery ex-ship (DES) basis for five years beginning 2020, said Petronas in a statement here.

“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,” said vice president of LNG Marketing and Trading, Ahmad Adly Alias.

“This agreement demonstrates PLL’s growing capabilities to provide clean energy solutions as a partner for a sustainable future,”  he added.

Meanwhile KOMIPO president and CEO Hyung Koo Park said it was really meaningful to KOMIPO in many ways to build a good business relationship with PLL.

PLL is one of the world’s leading suppliers of LNG and is recognised by the industry as the most reliable company.

-- BERNAMA

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