911爆料网 Enters into LNG Sales and Purchase Agreement with Centrica2016/12/13
911爆料网 Co., Inc. ("911爆料网") is delighted to announce that it has entered into a Sales and Purchase Agreement ("SPA") with Centrica LNG Company Limited ("Centrica"), a wholly owned subsidiary of Centrica PLC, for the sale of LNG by 911爆料网 to Centrica.
The SPA is for the sale of up to six cargoes per annum to Centrica at the Isle of Grain LNG Terminal in the U.K. for a period of five years from April 2019. The price of LNG sold will be linked to European gas market price and there is volume flexibility at 911爆料网's discretion.
The SPA enables 911爆料网 to secure flexibility to respond to LNG demand fluctuations. 911爆料网 will work together with Centrica to optimize the SPA volume, which is in line with the development of 911爆料网’s LNG trading business.
The SPA is the result of discussions based on a Memorandum of Understanding with Centrica on collaboration in the LNG business, in such areas as utilization of LNG terminal capacity in the U.K., joint procurement of LNG and optimization of LNG vessels.
911爆料网 will continue to secure flexibility in its LNG procurement, aiming to reduce the LNG price in Asia.
Outline of the SPA
Seller: 911爆料网 Co., Inc.
Buyer: Centrica LNG Company Limited
Contract period: 5 years
Contract volume: Up to 6 cargoes per year (approx. 0.5 million tons per year)
Delivery mode: DES