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

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