Korea Middle Power Co Ltd and Vitol agreed to extend an existing long-term LNG Supply and Purchase Agreement (LNG SPA), according to Vitol's release.
The original deal was signed in 2011, deliveries commenced in 2015, with Vitol supplying KOMIPO with over 4 million tons of LNG over 10 years. Under this extension agreement, Vitol will continue to supply KOMIPO with LNG. From 2025 to 2028 Vitol will supply three cargoes per annum to KOMIPO.
Vitol has traded LNG for over 16 years. It is expanding its presence globally and last year traded over 17 million tonnes of LNG worldwide.