Conclusion of a Memorandum of Agreement to renew the LNG Sale and Purchase Contract with Malaysia LNG Sdn. Bhd

abarrelfullabarrelfull wrote on 29 Aug 2012 05:33
Tags: asia lng malaysia tokyo-gas

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Tokyo Gas Co., Ltd. today concluded with Malaysia LNG Sdn. Bhd. (hereafter “Malaysia LNG”), a Memorandum of Agreement to renew the LNG sale and purchase contract of Malaysia Dua project (hereafter “the Project”), which will expire on March 2015.

Tokyo Gas has procured LNG from the Project since 1995 under the current contract. Tokyo Gas has kept discussions to renew the contract with Malaysia LNG, and today reached a conclusion of a Memorandum of Agreement. With this agreement, Tokyo Gas will procure approximately 900 thousand tons of LNG per annum over a period of ten years starting from April 2015.

In accordance with this agreement, Tokyo Gas and Malaysia LNG will move forward with discussions to conclude a new LNG sale and purchase contract.
Tokyo Gas and Malaysia LNG have other LNG sale and purchase contracts, and have built a trust in relationship spanning approximately 30 years. This agreement will serve to maintain stable trade between Tokyo Gas and Malaysia LNG.

From here onwards, Tokyo Gas will work towards stable and competitive procurement of LNG.

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