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.
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