S-Oil inks deal to buy LNG
SEOUL-- S-Oil Corp., the third-largest oil refiner in South Korea, said Friday that it has signed a deal to buy liquified natural gas (LNG) for 15 years.
In a regulatory filing, the refiner said it would buy 700,000 metric tons of LNG from Petronas, a Malaysian state-run oil firm, annually.
The LNG will be used for the operation of expanded production facilities, it said.
The refiner did not reveal the terms of the deal.
S-Oil is controlled by Aramco, the world's largest crude exporter.
Source: Yonhap News Agency