Vitol has signed a multi-year liquefied natural gas (LNG) sale and purchase agreement with Indonesia’s Bontang gas sellers, the commodity trader said on Thursday.

The LNG supply to Vitol Asia will commence in 2024, with about 550,000 tonnes per annum for a period of three years on a Free on Board (FOB) basis, with a possible one-year extension, Vitol said in a statement.

The feed gas produced from the Merakes field located in Indonesia’s Makassar Strait will be loaded at the Bontang LNG plant, Vitol said.

Merakes is part of the East Sepinggan production-sharing contract which jointly owned by ENI East Sepinggan Limited, Neptune Energy East Sepinggan B.V. and PT Pertamina Hulu Energi East Sepinggan.
Source: Reuters (Reporting by Swati Verma in Bengaluru; editing by Jason Neely)