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Vitol signs HOA to purchase LNG from Petronas

November 29, 2018

Vitol signs HOA to purchase LNG from Petronas

PETRONAS and Vitol signed a binding HOA for long-term LNG SPA. Under the terms of the agreement, the LNG supply to Vitol commencing in 2024 will be approximately up to 0.8 MTPA for a period of up to 15 years on both DES and FOB basis.

The primary supply to Vitol will come from LNG Canada as well as from other Petronas’ global LNG supply portfolio. LNG Canada is an LNG project located in Kitimat, British Columbia, Canada of which PETRONAS is one of the joint venture participants with equity holding of 25%.

Edited from Vitol press release.