Repsol has signed a liquefied natural gas (LNG) supply agreement with South Korea's state-owned Korea Gas Corporation (KOGAS), boosting Repsol’s position as one of the world’s largest shippers of the fuel. The 15-month agreement, which took effect from January, will involve the shipment of 1.9 bcm of gas equivalent to Korea, equivalent to the annual supply of 1 million homes. Repsol will ship the LNG from the Peru LNG terminal, to which the company has the sole off-take rights. The deal, which is Repsol’s first LNG sale in the Far East adds to the company’s supply contracts in Europe and North- and South-America, reinforcing Repsol’s global position in liquefied natural gas marketing.
