According to Reuters, Angola LNG said the deal was another step towards building its sales book with the most important players in the LNG market.
Previously Angola sold LNG to Vitol over a multi-year period and also entered a sales deal with the trading arm of Germany’s RWE.
Until recently, Angola has been selling all of its LNG via competitive tenders in the spot market, partly because a previous plan to ship LNG to the United States fell through because of the US shale gas boom.
Concerns over the Angola LNG plant’s reliability as well as limitations on feed gas supplies from offshore fields also prevented the Chevron-led project from previously locking in an LNG sales deal.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/20092017/glencore-strikes-multi-year-purchase-deal-with-angola-lng/