Tokyo Gas has signed a heads of agreement to buy LNG from Petronas, according to NASDAQ.
The agreement renews one of the three import contracts Tokyo Gas holds with the Malaysian company, albeit with a reduced volume of LNG and a shorter duration.
Tokyo Gas plans to buy 500,000 tons per year for the first six years of the contract and 900,000 tons for the remaining seven years. The new deal will also have flexible destination clauses.
Tokyo Gas’s other contracts with Petronas will expire by...