Japan’s Tokyo Electric Power Company (TEPCO), Tokyo Gas and Osaka Gas have extended their agreement with Brunei LNG Sendirian Berhad in Lumut, Brunei Darussalam for the purchase of liquefied natural gas.
The existing LNG sales and purchase contract valid for 20 years from 1993 is set to expire on March 2013.
The new deal is for the purchase of about 3.4 million tons of LNG per annum over a period of ten years starting from April 2013 to March 2023, less than the current deal to buy 6.01 million tons per annum.
Brunei LNG stated the buyers will work towards the stable and efficient procurement of fuels for power generation and feedstock for city gas in order to maintain a secure supply of energy.
Brunei LNG Sendirian Berhad is owned by Brunei Government with a 50% stake and both Shell Overseas Holdings and Mitsubishi Corporation hold the remaining 25% each.
Brunei LNG operates 5 LNG trains and produces 6.71 million tonnes every year of liquified natural gas.