Vitol and Petronas Sign HOA for LNG Canada Supplies
Posted on Nov 30, 2018 in LNG Exports, Markets and Competition | Comments Off on Vitol and Petronas Sign HOA for LNG Canada Supplies
PETRONAS through its subsidiary, PETRONAS LNG Ltd and Vitol Asia Pte Ltd (Vitol) have announced the signing of binding Heads of Agreement (HOA) for a long-term LNG sale and purchase agreement. Under the terms of the agreement, signed on October 1, 2018, the LNG supply to Vitol, commencing in 2024, will be approximately up to 0.8 million tonnes per annum for a period of up to 15 years on both Delivered Ex-Ship (DES) and Free on Board (FOB) basis. The primary supply to Vitol will come from the proposed LNG Canada terminal in British Columbia.