Petronas signs AECO-indexed deal with CNOOC
July 7, 2021
Petronas signed a supply deal with CNOOC for the delivery of 2.2 MTPA to China for 10 years. This agreement also includes supply from LNG Canada which might start operations in 2025. The price of LNG will be indexed to a combination of the Brent and Alberta Energy Company (AECO) indices. The AECO index is housed on the ICE NGX commodity exchange platform in North America. In May Petronas sold a spot cargo from Bintulu, Malaysia, indexed to AECO to a buyer in the Far East.
Edited from Petronas press release
