Trading company Vitol has doubled to $2bn its prepayment agreement with Kazakh state-controlled Kazmunaigaz (KMG) for crude from Kazakhstan’s offshore 13bn bl Kashagan field. A deal signed last year has recently been “upsized” to $2bn, according to lead arranger Mitsubishi UFJ Financial Group (MUFG). KMG selected Vitol as the buyer for its share of crude exports from Kashagan under a $1bn five-year prepayment deal in November, shortly after the start of commercial production from the field. KMG holds a 16.81pc stake in Kashagan operating consortium NCOC.
展开▼
