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GLNG enters sale agreement with Petronas

GLNG enters sale agreement with Petronas

LNG company GLNG has entered into a binding agreement to sell 2 million tonnes of gas per year to Petronas.

GLNG, which is 60%-owned by oil and gas exploration company Santos (ASX:STO) also said it is in ongoing discussions with a number of Asian LNG buyers in relations to potential GLNG sales.

The discussions include a potential for buyers to purchase an equity stake in GLNG from Santos, with final investment arrangements expected to close in mid-2010.

The agreement underpins the volumes expected for the first train of the GLNG project, Santos said.

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Tags Gas GLNG Petronas Santos

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