Gazprom Singapore signs Yamal LNG deal

Singapore: Gazprom Marketing & Trading Singapore, the LNG trading arm of Gazprom, has signed a LNG supply agreement with Yamal Trade.

Under the the agreement, Yamal Trade will supply of up to 3m tons of LNG per annum to Gazprom for 20 years.

LNG will be supplied on the FOB basis at a transshipment point in Western Europe for further delivery to the Asia-Pacific region, primarily India. The price is crude oil indexed.

“This agreement significantly strengthens the long-term LNG portfolio of Gazprom and enables us to increase LNG trading volumes and utilize our own fleet of LNG carriers,” said Alexey B. Miller, chairman of the management board of OAO Gazprom. [26/05/14]

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