March 31, 2015 / 5:36 AM / 4 years ago

Japan's Toho Gas to buy LNG from Malaysia's Petronas

TOKYO, March 31 (Reuters) - Japan’s third-biggest city-gas supplier, Toho Gas Co, said on Tuesday it signed a basic agreement with a wholly-owned unit of Malaysia’s Petroliam Nasional Bhd (Petronas) to buy liquefied natural gas (LNG).

The company is set to accept seven to nine LNG cargoes a year during the 10-year contract starting in April 2017, it said in a statement. The prices will be linked to crude and U.S. Henry Hub prices, with an option to change the destination on condition of obtaining the seller’s prior consent, it added. (Reporting by Osamu Tsukimori; Editing by Muralikumar Anantharaman)

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