03 Aug '11, 6am

Noble Group to buy 1 million tonnes of LNG yearly

Noble Group to buy 1 million tonnes of LNG yearly

SINGAPORE: A unit of mainboard-listed Noble Group has inked an agreement with InterOil Corp and Pacific LNG Operations to buy one million tonnes of Liquefied Natural Gas (LNG) per year. In a stock exchange filing, Noble Group said that under the heads of agreement signed by Noble Clean Fuels Limited, the LNG will be supplied by the Gulf LNG Project in Papua New Guinea - a joint project of the two companies. The purchase and sale will cover a period of 10 years starting from 2014, the commodities firm said. Noble said InterOil and Pacific LNG intend to complete the negotiations and execute binding agreements with Noble later this year.

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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