Vitol, Gazprom M&T ink LNG supply deal

Energy and commodity trading company Vitol signed a multi-year LNG purchase agreement with Gazprom Marketing & Trading’s Singapore unit.

Under the agreement, Gazprom Marketing & Trading will deliver 300,000 metric tons of LNG per year to Vitol, starting in 2018.

GM&T will supply the chilled fuel from its LNG portfolio, Vitol said in its statement on Thursday.

Pablo Galante Escobar, Vitol’s head of LNG said that the agreement will strengthen the company’s offering.

Vitol has been active within the LNG sector since 2005 and has delivered around 3 million metric tons of liquefied natural gas in 2016.