Eni Inks LNG Supply Deal With South Korea, Japan

Eni has signed a tripartite agreement with Korea Gas Corporation (Kogas) and Chubu Electric Power Company for the sale of 28 cargoes of LNG (or 1.7 Mton of LNG) over the period 2013-2017.

Under this agreement, which is the first joint purchase contract between Japan and South Korea, Eni will source the cargoes from its global LNG portfolio and ship them either to South Korea or Japan according to the two clients' allocation needs, increasing the flexibility and security of supply of their respective sourcing portfolios, the Italian enery firm said in a statement.

The agreement, which follows the one signed last year for the sale of 49 cargoes of LNG (equivalent to 3.3 Mton of LNG) to the Japanese market, will strengthen Eni's presence in the Far East LNG market.