Vitol Asia Pte Ltd and Korea Midland Power Co Ltd (KOMIPO) have signed a Memorandum of Understanding (MOU). The MOU covers exploring LNG opportunities in downstream, midstream, and upstream.
The two companies have been doing business together since 2015 under a Sales and Purchase Agreement (SPA). The SPA outlines that Vitol is to supply KOMIPO with 400,000 tons of LNG every year for a ten-year period.
Executives Vitol and KOMIPO stated their mutual enthusiasm about working together going forward.
