Vitol Delfin LNG, IRH and IRH Sign 20-Year LNG Supply Agreement

Vitol announced on Wednesday that International Resources Holdings (IRH) had signed a 20 year agreement with Delfin and Vitol to purchase and sell 1.0 million tonnes of liquefied gas per annum from Delfin’s U.S. export facility.

The deal stipulates that Delfin LNG would supply LNG free-onboard to Vitol. Vitol will then act as an offtaker and deliver volumes to IRH Global Trading.

A FOB agreement is a shipping contract whereby the seller assumes all costs and risks up until the goods have been loaded on the vessel.

The finalization of definitive agreements is expected in the next few weeks.

In a press release, Ali Rashed AlRashdi said that IRHGT was actively expanding its physical and financial presence in the natural gas, crude oil and refined products markets, as well as in metals and equities.

Delfin CEO Dudley Poston said, "We are looking forward to working with you as we make the final investment decision on the first FLNG vessel in the coming week."

Delfin LNG is a specialist in U.S. infrastructure for export. International Resources Holding, a subsidiary of ePointZero, is a platform for mine-to market. Anmol Choubey reports from Bengaluru.

(source: Reuters)