Gazprom Marketing & Trading Singapore signs LNG agreement

Source: Gazprom 

Gazprom Marketing & Trading Singapore (GM&T Singapore), a wholly owned subsidiary of Gazprom, has signed a sale and purchase agreement with Korea Gas Corporation (KOGAS), South Korea’s largest natural gas company. Under the agreement, GM&T Singapore will supply up to eight cargoes of Liquefied Natural Gas (LNG) per annum to KOGAS in 2013 and 2014, totalling up to 1 million tonnes over the two years. The supply will come from GM&T’s diversified portfolio.

Vitaly Vasiliev, Chief Executive Officer of GM&T, said: “As the largest LNG importer in the world, KOGAS is a key strategic partner of Gazprom and we are very pleased to have concluded this medium-term agreement that extends our well-established relationship.”

Mr Frédéric Barnaud, Executive Director for LNG & Shipping, added: “This agreement also provides a good basis for further expansion of our commercial portfolio and realising our ambition to be the leading LNG marketer in Asia Pacific. We look forward to partnering with other major energy players in the region willing to build and maintain a secure supply of energy, and meeting the growing demand for LNG in Asia Pacific.”

Since its set-up in 2009, GM&TS has grown to become one of the most active LNG players across the Asia Pacific region. It will continue to expand its trading, marketing and shipping activity in the region ahead of equity supplies expected in the latter part of this decade.

Sign up for PennEnergy's eNewsletters
For Email Newsletters you can trust

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs