GLNG: Mexico Pacific secures 20-year LNG supply deal with South Korea’s POSCO

Mexico Pacific has sealed a 20-year supply deal with South Korean industrial giant POSCO to sell the company 0.7mn tonnes per year (tpy) of LNG, the company announced on August 28.

The sales and purchase agreement (SPA) is on a free-on-board (FOB) basis, revealed Mexico Pacific, which is headquartered in Houston.

The deal marks the commencement of commercial ties between the two firms, which have expressed desire to grow their business relationship.

Seoul and Mexico City have traditionally enjoyed strong trade relations and South Korean firms are also of added interest to Mexico Pacific since South Korea is one of the few key markets in Asia to boast a comprehensive free trade agreement (FTA) with the US.