Italy's Eni signs agreement for the sale of LNG to Japan, S Korea

11 January 2013 07:39  [Source: ICIS news]

SINGAPORE (ICIS)--Eni has signed a tripartite agreement with South Korea’s KOGAS and Japan’s Chubu Electric Power for the sale of 28 LNG cargoes of 1.7m tonnes over 2013-2017, the Italy-based energy and chemicals major said on Friday.

This agreement is the first joint purchase contract between Japan and South Korea, and will allow Eni to source cargoes from its global LNG portfolio and ship them to either of the two countries according to their allocation needs. It will increase the flexibility and security of supply of their respective sourcing portfolios, the company said in a statement.

The agreement follows another one signed last year for the sale of 49 cargoes of LNG, equivalent to 3.3m tonnes, to the Japanese market.

By: Surinder Malhi
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