LNG Unlimited: Italian energy company Eni signs first joint Japanese-Korean LNG supply agreement

Italian energy company Eni signed a medium-term LNG sales agreement to deliver 28 cargoes to Japan and South Korea over the next four years in the first ever formal collaboration between Japanese and Korean utilities in LNG purchasing.

Eni has signed a tripartite agreement with Korea Gas Corp. and Japan's Chubu Electric Power Co. for the cargoes, equivalent to 1.7 million tonnes of LNG over the period 2013-2017.

The agreement is the first joint purchase contract between Japanese and South Korean companies and a supplier since both governments signed an agreement at the end of 2011 for closer cooperation on LNG in the face of surging prices.  MORE