Business

Petronas and S-Oil ink agreement for LNG supply

petronas lng

Syndicated News
Written by Syndicated News

KUALA LUMPUR, Aug 29 2017 : Petronas LNG Ltd (PLL), a subsidiary of Petroliam Nasional Bhd (Petronas), has signed a sale and purchase agreement with S-OIL Corporation (S-Oil) to supply liquefied natural gas (LNG) for the latters new plant operations and as feedstock for its hydrogen production.

In a statement today, Petronas said under the agreement, PLL was committed to deliver up to 0.7 million tonnes per annum (MTPA) of LNG to S-Oil for 15 years, from 2018.

PLL Chairman/Petronas LNG Marketing & Trading Vice-President, Ahmad Adly Alias said the agreement was a testament to Petronas’ focus on building long term relationships with committed partners.

“We look forward to creating additional value with S-Oil to ensure that we can deliver the most value-comprehensive solution,” he added.

Backed by over 30 years of LNG experience, Petronas has been recognised as a reliable and flexible LNG supplier, operating from its main supply base in Bintulu, Sarawak.

It has also diversified the LNG supply portfolio in recent years with the inclusion of Australia Gladstone LNG and the world’s first floating LNG facility in offshore Sarawak.

S-Oil is an oil refining company headquartered in Seoul, South Korea.

Established in 1976, the company produces petroleum, petrochemical and lubricant products. – Bernama

Comments

comments

About the author

Syndicated News

Syndicated News

News sourced from Bernama, Reuters, AFP and other accredited news agencies, including credible blogsites and news portals.