Vitol and Petronas signed a LNG purchase/sale contract


The Swiss-Dutch company Vitol, which sells oil and oil products, said it had reached an agreement with Malaysian state-owned oil and gas company Petronas on the terms of a long-term contract for the sale/purchase of liquefied natural gas. The agreement obliges the parties to draw up a long-term contract, according to which Vitol, starting from 2024, will receive about 800 million tons of LNG from Petronas annually. The term of this contract is 15 years. It is also reported that the Malaysian company, under the contract, plans to carry out its first deliveries with the Canadian project LNG Canada.

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