GULF signed an LNG Sale and Purchase Agreement with PetroChina

Moscow, November 12 – Neftegaz.RU. Gulf Development Public Company Limited (GULF) signed an LNG Sale and Purchase Agreement with PetroChina International (Singapore) Pte. Ltd. (PCSG), a subsidiary of PetroChina International (PCI), one of China’s leading global energy companies. The transaction will be carried out through Gulf LNG International Pte. Ltd. (GLNGI), GULF’s Singapore-incorporated subsidiary engaged in international LNG trading. Under the agreement, GLNGI will deliver four LNG cargoes to PCSG, totaling approximately 0.3 million tonnes in 2027, for delivery to China.

The agreement marks another important step in expanding GULF’s LNG business from securing LNG supply to meet domestic demand toward LNG portfolio management and international trading.

«This collaboration builds on our business relationship with one of China’s leading energy companies and reflects our strategy of combining the strengths of both companies to create greater value and expand our LNG trading presence in international markets. GULF will leverage its strong LNG infrastructure capabilities in Thailand and flexibility in LNG portfolio management, together with PetroChina’s trading network and market access, to enhance the efficiency of our international trading activities», said Mr. Disathat Panyarachun, Chief Executive Officer, GULF Resources.

Gulf LNG International Pte. Ltd. (GLNGI) operates GULF’s LNG supply and trading business under the management of GULF Resources, GULF’s resources business arm. Its businesses span LNG supply and trading, LNG receiving terminal and storage infrastructure, vessel operations, and natural gas distribution.