Pacific Rubiales Energy Corp. and Gazprom Marketing & Trading Singapore (GM&TS) sign a four year LNG Sale and Purchase Agreement
Gazprom Marketing & Trading Singapore has signed a four year LNG Sale and Purchase Agreement with Pacific Rubiales Energy Corp, GM&T says in its press release.
Following the 2013 announcement on Heads of Agreement with Pacific Rubiales Energy Corp. Gazprom Marketing & Trading are very pleased to announce the execution of a four year Sale and Purchase Agreement between Gazprom Marketing & Trading Singapore and Pacific Rubiales Energy Corp.
Gazprom Marketing & Trading Singapore will be the offtaker for approximately 0.5 million tonnes per annum of LNG from an offshore LNG terminal located in Tolu, on the Caribbean coast of Colombia.
Vitaly Vasiliev, CEO of GM&T commented: "We are thrilled to partner with Pacific Rubiales and to bring our technical, commercial and shipping expertise to this exciting project, which remains on track to become the world's first floating gas liquefaction plant in operation."
Gazprom Marketing & Trading (GM&T) is a wholly owned subsidiary of the Gazprom group of companies, the world's largest gas producer and one of the world's largest energy companies.
Gazprom Marketing and Trading is wholly owned by the investment and holding company Gazprom Germania GmbH. This in turn is a 100% subsidiary of Gazprom Export – the export arm of OAO Gazprom, the world’s largest gas producer.
Pacific Rubiales, a Canadian company and producer of natural gas and crude oil, owns 100% of Meta Petroleum Corp., which operates the Rubiales, Piriri and Quifa heavy oil fields in the Llanos Basin, and 100% of Pacific Stratus Energy Colombia Corp., which operates the La Creciente natural gas field in the northwestern area of Colombia. Pacific Rubiales has also previously acquired 100% of Petrominerales Ltd, which owns light and heavy oil assets in Colombia and oil and gas assets in Peru, 100% of PetroMagdalena Energy Corp., which owns light oil assets in Colombia, and 100% of C&C Energia Ltd., which owns light oil assets in the Llanos Basin. In addition, the Company has a diversified portfolio of assets beyond Colombia, which includes producing and exploration assets in Peru, Guatemala, Brazil, Guyana and Papua New Guinea.
The Company's common shares trade on the Toronto Stock Exchange and La Bolsa de Valores de Colombia and as Brazilian Depositary Receipts on Brazil's Bolsa de Valores Mercadorias e Futuros under the ticker symbols PRE, PREC, and PREB, respectively.
