RasGas Sales and Purchase Agreement with KOGAS
Posted: 24 November 2004
RasGas and the Korea Gas Corporation (KOGAS) have further strengthened their relationship with the signing of a short term Sales and Purchase Agreement. RasGas will supply approximately four million tonnes of LNG to KOGAS over a four-year period commencing this winter and continuing to April 2008.
Dr Ibrahim B. Ibrahim, RasGas Vice Chairman and Chairman of the Marketing Committee and Oh, Kang-Hyun, President of the Korea Gas Corporation signed the agreement on behalf of their respective companies.
The new agreement for the supply of four million tonnes of LNG is in addition to the five million tonnes of sales per year currently delivered under the long term Sale and Purchase Agreement signed by RasGas and KOGAS in October 1995.
Since first production in 1999, RasGas has delivered over 380 cargoes of LNG to KOGAS. Signing of the short term Sales and Purchase Agreement represents an additional milestone in the relationship between KOGAS and RasGas and a continuation of the long history of RasGas as a reliable supplier of LNG to the Republic of Korea .
Posted by Alexander Lindsay, Editor Pipeline Magazine
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