Latest news with #HoA
Bangkok Post
a day ago
- Business
- Bangkok Post
PTT, Centrica ink LNG deal
National oil and gas conglomerate PTT Plc is strengthening its position as a liquefied natural gas (LNG) trader in Southeast Asia, with its latest move paving the way to sell LNG to a British multinational energy firm. PTT not only buys LNG under long-term purchase contracts to ensure Thailand has sufficient fuel for power generation, but it also sells the gas overseas to rack up revenue. The company recently signed a heads of agreement for long-term LNG sales to Centrica LNG Co, scheduled for delivery in 2028, said Jaturong Worawitsurawatthana, senior executive vice-president overseeing international trading at PTT. Known as HoA, heads of agreement serves as a roadmap for negotiations and helps parties ensure they are on the same page regarding key aspects of a deal. Under the HoA, subsidiary PTT International Trading Pte will supply LNG to Centrica for a 10-year period across a range of destinations in Asia, based on a delivered ex-ship (DES) basis. DES is used for pricing and delivery management, where a seller is responsible for LNG until it has been made available to a buyer on board the ship at a destination. "With this agreement, PTT is moving to become a major LNG trader in Southeast Asia," said Mr Jaturong. The collaboration secures PTT International Trading's first long-term LNG sales contract outside Thailand, aligning with the company's international growth ambitions. PTT previously announced it signed a long-term purchase contract to buy 2 million tonnes of LNG from Alaska to avoid LNG price fluctuations in the spot market and address the trade imbalance with the US.
The Star
6 days ago
- Business
- The Star
Enra inks RM136.56mil deal for supply of sorage tanker solution
KUALA LUMPUR: Enra Group Bhd 's wholly-owned subsidiary Hexagon Energy Logistics Sdn Bhd has entered into a binding heads of agreement (HoA) with SIP JDA Sdn Bhd in relation to the provision of a storage tanker solution to SIP in support of CARIGALI-PTTEPI operations at the Malaysia-Thailand Joint Development Area. In a filing with Bursa Malaysia, Enra said the contract, which will last a duration of 12 months from Oct 1, 2025 to Sept 30, 2026, has a value of US$32.09mil (about RM136.56mil). The HoA is expected to contribute positively to the earnings per share, net assets per share and gearing of Enra Group for the financial year ending March 31, 2026, it said. Trading in the securities of Enra has been halted from 9am to 10am on Monday, in light of the announcement. The stock was last traded at 63 sen a share last Friday.
