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Vitol makes headway in market for LNG through multi-year deal with Gazprom

Vitol has signed a multi-year LNG purchase agreement with Gazprom Marketing & Trading Singapore.

Vitol makes headway in market for LNG through multi-year deal with Gazprom


Vitol has signed on April 20, 2017, a multi-year LNG purchase agreement with Gazprom Marketing & Trading Singapore (GM&T Singapore).

 

The agreement will cover the supply of around 300 000 tpy of LNG from 2018.

The LNG supply will come from GM&TS’s diversified LNG portfolio.

The bulk of Gazprom's current LNG portfolio comes from the Sakhalin-2 project in Russia.

 

These volumes will be further bolstered by a 20-year contract signed in 2015 to lift 2.9 million mt/year from the Novatek-controlled Yamal LNG project in Russia's northern Yamal peninsula, which is due to start up this year.

 

Pablo Galante Escobar, Vitol’s Head of LNG, said: «We are delighted to be working with Gazprom Marketing & Trading a subsidiary of Gazprom, the world’s largest producer of natural gas. Vitol is an established participant in LNG markets globally and this development will strengthen our offering to customers world-wide.»

 

Vitol has been active within the LNG sector since 2005 and has delivered around 3 million metric tons of liquefied natural gas in 2016.

 

To read this news in Russian.

 

Source : Neftegaz.RU