Chinese Private Firm Jovo Concludes LNG Term Deal With Petronas

摘要

Chinese privately owned gas distributor Jovo Group has concluded a deal with Malaysia's state-owned Petronas for a midterm LNG supply contract, making it the first Chinese private investment for importing LNG from an overseas market. Sources close to the deal said Petronas, according to the contract, is obligated to sell 300,000 tons of LNG to Jovo annually for five years, averaging about five to six cargoes a year.