Chevron pens new long-term LNG supply deal with GS Caltex

U.S. oil and gas major Chevron signed a new sales and purchase agreement with GS Caltex Corporation for the delivery of liquefied natural gas (LNG) to South Korea.

Chevron said on Wednesday that GS Caltex, a joint venture between Chevron and GS Energy, signed a long-term agreement and would begin receiving LNG from Chevron’s global supply portfolio in October 2019.

The company has not unveiled the volume or the term of the deal.

It is worth mentioning that Chevron has an existing LNG sales and purchase agreement with GS Caltex executed in 2009.

Chevron leads a number of liquefied natural gas projects currently producing the chilled fuel including the Angola LNG project as well as the Gorgon and Wheatstone liquefied natural gas projects in Australia.