KOMIPO, Vitol extend long-term LNG agreement

Korea Middle Power Co (KOMIPO) and commodity trader Vitol have agreed to extend an existing long-term LNG agreement, Vitol announced on May 28.

The original deal, signed in 2011, saw deliveries commence in 2015, with Vitol supplying KOMIPO with over 4mn tonnes of LNG over 10 years. Under this extension agreement, Vitol will continue to supply KOMIPO with LNG from 2025 to 2028, providing three cargoes per year.

Vitol, which has traded LNG for over 16 years, is expanding its presence globally and traded over 17mn tonnes of LNG worldwide last year.