Malaysia LNG Tiga Sdn Bhd (MLNG Tiga) today signed a Sale and Purchase Agreement (SPA) with Japan Petroleum Exploration Co Ltd (JAPEX) to supply up to 480,000 tonnes of liquefied natural gas (LNG) per year to the latter for 20 years beginning from 2003. The contract is valued at about US$1.6 billion.

The SPA firmed up the Confirmation of Intent signed by the two parties in September 1997. Under the terms of the SPA, the LNG will be supplied from Bintulu LNG Complex, Sarawak, and will be delivered to JAPEX by LNG tankers owned by Malaysia International Shipping Corporation Bhd (MISC), a subsidiary of PETRONAS. The first delivery is scheduled to be in early 2003. The LNG will be transported from Malaysia’s LNG loading terminal at Bintulu to the LNG receiving terminal at Seiro-machi, Kitakanbara-gun, in the Niigata Prefecture in Japan. Continue Reading

Malaysia LNG Tiga Sdn Bhd (MLNG Tiga) today signed a Sale and Purchase Agreement (SPA) with Japan Petroleum Exploration Co Ltd (JAPEX) to supply up to 480,000 tonnes of liquefied natural gas (LNG) per year to the latter for 20 years beginning from 2003. The contract is valued at about US$1.6 billion.

The SPA firmed up the Confirmation of Intent signed by the two parties in September 1997. Under the terms of the SPA, the LNG will be supplied from Bintulu LNG Complex, Sarawak, and will be delivered to JAPEX by LNG tankers owned by Malaysia International Shipping Corporation Bhd (MISC), a subsidiary of PETRONAS. The first delivery is scheduled to be in early 2003. The LNG will be transported from Malaysia’s LNG loading terminal at Bintulu to the LNG receiving terminal at Seiro-machi, Kitakanbara-gun, in the Niigata Prefecture in Japan. Continue Reading