Chevron Signs New LNG Deal with South Korean Refiner

Chevron Signs New LNG Deal with South Korean Refiner
A Chevron subsidiary signed a sales and purchase agreement with South Korean oil refiner GS Caltex Corporation.

Chevron U.S.A. Inc, a subsidiary of Chevron Corp, has signed a sales and purchase agreement (SPA) with South Korean oil refiner GS Caltex Corporation, Chevron announced Feb. 13.

The long-term agreement, which is for delivery of liquefied natural gas (LNG) to South Korea from Chevron’s global supply portfolio, will start in October of this year.  

No further details regarding the agreement were made immediately available.

Hugh Connett, Chevron’s president of Global Gas, called the agreement another indication of the significance of the long-standing relationship between Chevron and GS Caltex.

Chevron has an existing LNG sales and purchase agreement with GS Caltex executed in 2009. This SPA involves LNG supplied from Chevron’s Gorgon project delivered to GS Caltex for up to 20 years.    

“We’re proud of our partnership with GS Caltex and we welcome this opportunity to build on that relationship by supplying LNG to South Korea’s growing market,” Connett added.



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