LNG

July 7 (LNGJ) - Malaysian oil and gas company Petronas said the LNG division signed a 10-year deal to supply volumes to the trading unit of the Chinese major China National Offshore Oil Corp. “The deal is for 2.2 million tonnes per annum indexed to a combination of the Brent and Alberta Energy Company (AECO) indices,” said Petronas.

   The transaction between Petronas and CNOOC was given a value by the Malaysians of around $7 billion over the 10 years. “This long-term supply agreement also includes supply from LNG Canada when the facility commences its operations by middle of the decade,” said Petronas.

Oct 9 (LNGJ) - Petronas, the Malaysian state-backed energy company and LNG supplier, said it signed a Sale and Purchase Agreement (SPA) with Korea Midland Power, the South Korean electricity generating company. The accord is for 240,000 tonnes per annum of LNG for an initial term of five years.

   Korea Midland is based in Boryeong, the port on the Yellow Sea coast where the nation’s newest of its six LNG import terminals is located. Boryeong has been in operation since 2017 and is owned by independent energy utilities rather than state-run Korea Gas Corp.