KUALA LUMPUR (Oct 9): Petroliam Nasional Bhd (Petronas) through its subsidiary Petronas LNG Ltd (PLL) has signed a liquefied natural gas (LNG) sale and purchase agreement (SPA) with Korea Midland Power Co Ltd (KOMIPO).

Petronas said in a statement today that under the SPA, KOMIPO has agreed to purchase approximately 0.24 million tonnes per annum of LNG from PLL on a delivery ex-ship basis for five years, beginning 2020.

Petronas vice president of LNG marketing and trading Ahmad Adly Alias said in the statement: "We are pleased to build a relationship with KOMIPO, one of South Korea's largest power generation companies and increase our customer base in the region."

"This agreement demonstrates PLL's growing capabilities to provide clean energy solutions as a partner for a sustainable future," Adly said.

KOMIPO president and CEO Hyung Koo Park said in the statement: "PLL is one of the world's leading suppliers of LNG and is recognised by the industry as the most reliable company. It is really meaningful to KOMIPO in many ways to build a good business relationship with PLL."