PETRONAS LNG Ltd. (PLL), a subsidiary of PETRONAS, has secured a 10-year term deal to supply liquefied natural gas (LNG) to CNOOC Gas and Power Trading & Marketing Limited, a subsidiary of China National Offshore Oil Corporation (CNOOC).
This long-term supply agreement also includes supply from LNG Canada when the facility commences its operations by middle of the decade.
The deal is for 2.2 million tonnes per annum (MTPA) for a 10-year period, indexed to a combination of the Brent and Alberta Energy Company (AECO) indices. The term deal between PETRONAS and CNOOC is valued at approximately USD 7 billion over ten years.
TOUGH TIMES AHEAD FOR WPL!!! Back to $18-20 soon?
DYOR.
PETRONAS LNG Ltd. (PLL), a subsidiary of PETRONAS, has secured a...
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