Tohoku Extends Malaysia LNG Contract
Tohoku Electric Power of Japan said it has signed a deal to extend LNG purchases from Malaysia’s LNG II project, operated by Petronas.
Tohoku Electric Power has been buying about 0.5 million tonnes of LNG a year from April 1996 from Malaysia II, but since this contract will expire in March 2016, the company has agreed to buy 370,000 tonnes a year of LNG for 10 years from April 2016.
The company also recently signed a deal with Qatargas 3 in which the company will deliver LNG to Tohoku for a period of 15 years starting from 2016, building up to a plateau volume of 0.18 million tonnes per annum from 2019 onwards.
LNG World News Staff, March 17, 2014; Image: MLNG