(Reuters) – Energy trader Vitol on Friday said that it has entered into a long-term swap arrangement with China Gas.
As part of the agreement, Vitol will purchase half a million metric tons of LNG from China Gas’ contracted U.S. volume on FOB (free on board) basis and sell half a million metric tons of LNG to China Gas on DES (delivered ex ship) basis from 2029, Vitol said in a press release.
(Reporting by Anushree Mukherjee in Bengaluru; Editing by Tomasz Janowski)
