Gazprom Marketing & Trading Singapore (GM&T Singapore) has signed a Master Sales and Purchase Agreement (MSPA) for liquefied natural gas, with PetroVietnam Gas (PV Gas).
The signing of Vietnam’s first LNG MSPA between GM&T and PV extends the companies’ strategic cooperation.
The agreement was signed at a ceremony in Ho Chi Minh on 4th March. The ceremony was attended by senior representatives from both companies, including Dato Medan Abdullah, managing director of GM&T Singapore and Do Khang Ning, CEO of PV Gas.
LNG for import terminal
This agreement is the first MSPA for LNG to be signed in Vietnam and is intended to secure supplies for PV Gas’ import terminal.
Asian energy market
Commenting on the LNG agreement, Medan Abdullah said: “We are delighted to have signed this MSPA with PV Gas, one of Gazprom’s most valued partners. This is a natural extension of the well-established relationship between our parent companies. We recognise PV Gas as one of Southeast Asia’s major players in the energy market and we are honoured they have chosen to sign their first LNG MSPA with us.
“We look forward to partnering with them as they build and maintain a secure supply of energy, to meet the growing demand for energy, and specifically LNG, in the country.”
Leading LNG marketer
Frederic Barnaud, executive director of Global LNG and Shipping & Logistics, GM&T, added: “This agreement provides a good basis for further expansion of our commercial portfolio in Southeast Asia and progresses our ambition to be the leading LNG marketer in Asia Pacific. We look forward to a long and mutually beneficial relationship with PV Gas.”
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/11032014/lng_sales_agreement_for_vietnam_272/