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    Komipo Strikes $3.4 bn LNG Deal With Vitol

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Summary

Korea Midland Power Co. Ltd., or Komipo, has inked a $3.4 billion deal with Switzerland's Vitol SA to buy liquefied natural gas for 10 years starting in 2015.

by: Shardul

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Asia/Oceania

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Komipo Strikes $3.4 bn LNG Deal With Vitol

Korea Midland Power Co. Ltd., or Komipo, has inked a $3.4 billion deal with Switzerland's Vitol SA to buy liquefied natural gas for 10 years starting in 2015.

Komipo plans to take in 400,000 metric tons of LNG a year from Vitol from 2015 to 2024, the company said in a statement. The company didn't disclose price details.

Komipo owns and operates various power plants from steam power plants, internal combustion and combined cycle thermal power generation plants to the pumped-storage power plants and renewable energy facilities.

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