GM&TS to purchase 1.2 million tons of LNG a year in Cameroon

Gazprom Marketing and Trading Singapore, Perenco and Société Nationale des Hydrocarbures signed a Sales & Purchase Agreement for 1.2 million tons of LNG a year from the Hilli FLNG terminal in Cameroon.

GM&TS to purchase 1.2 million tons of LNG a year in Cameroon

The Agreement was concluded for an eight-year term. Supplies on a FOB basis will start in 2017.

LNG from the Hilli floating terminal will strengthen the GM&TS global portfolio and boost the company’s position in the global market.

Background

Gazprom Marketing and Trading Singapore, a wholly-owned subsidiary of Gazprom Marketing and Trading is focused on LNG sales and marine transportation in Asia-Pacific.

Perenco, an Independent Oil & Gas Company is engaged in hydrocarbon production in 12 countries around the world.

Société Nationale des Hydrocarbures, a national oil and gas company of Cameroon cooperates with foreign companies and sells state-owned oil and gas.

The Hilli FLNG terminal capacity is 1.2 million tons of LNG a year.

Free on board (FOB) is one of the conditions of product delivery, according to which a seller should load the goods onto the ship at his expense and pay all export duties. A buyer at his own cost should charter a ship, pay for the goods and ensure their transportation once they are delivered.

Source:: GM&TS to purchase 1.2 million tons of LNG a year in Cameroon

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