Oil Search (ASX:OSH) reports that the Papua New Guinea LNG project co-venturers have entered into a mid-term LNG sale and purchase agreement with Unipec Singapore.
Unipec Singapore operates as a distributor and markets oil products and natural gas in Asia-Pacific region.
It's a wholly-owned subsidiary of Sinopec which is one of PNG LNG’s original long-term customers.
The sale is for the supply of approximately 0.45 million tonnes of LNG per annum over a four-year period commencing in April 2019.
Oil Search has a 29 per cent interest in the PNG LNG Project. Santos (ASX:STO) has a 13.5 per cent interest in PNG LNG.
Shares in Oil Search (ASX:OSH) trading 1.77 per cent higher at $8.04.