Noble Group Signs First LNG Term Sales Contract for Asia Pacific

Noble Group Limited on Wednesday announced it has signed a contract to supply LNG cargoes to an end buyer in the Asia Pacific region.

The term sales contract, which is Noble’s first in Asia Pacific, is on a Deliver Ex Ship basis and contains a commercial structure that is flexible, the company said.

The LNG cargoes will be delivered by 2020 and will be sourced from Noble’s global supply portfolio, which includes multi-cargo, multi-year supply agreements and vessels chartered from the market.

“Noble’s first LNG cargo to the region was delivered to the Japanese market in January 2015, and this contract builds on Noble’s growing LNG business within the Asia Pacific basin,” the company stated.

Nobel’s LNG business has reached 2 million tonnes in less than 18 months of operations, Gareth Griffiths, Global Head of Power, Gas and Carbon trading, Noble Group, said.

“Asia Pacific is a key growth area for LNG, with its increasing demand for a reliable, clean source of fuel to power energy and industries as the middle class expands," he added.