Brunei Energy Services & Trading (BEST) and Vitol are pleased to announce the extension of their Liquefied Natural Gas (LNG) Sale and Purchase Agreement (SPA). This extension reinforces the strong, multi-year partnership between the two companies and underscores their shared commitment to global energy security.

The original agreement, signed in 2022 with deliveries commencing in 2023, established a supply of approximately 0.4 million tonnes per annum (mtpa) to Vitol’s Asian operations over a five-year term. Under the newly signed extension, BEST will continue to supply Vitol with up to four LNG cargoes per annum from 2028 through 2031.

This extension reflects the deep level of trust and operational excellence established between BEST and Vitol. It further highlights BEST’s growing role as a premier energy services provider and Brunei Darussalam’s reputation as a dependable source of LNG in the international market.

Yang Mulia Hajah Sharidatul Maryani Binti Hj Md Saidin, Chief Executive Officer at BEST, commented:

“We are delighted to further strengthen our partnership with Vitol through this agreement extension. This milestone is a testament to the reliability of our operations and the strength of the relationship we have cultivated since 2022. By securing this extension into 2031, BEST continues to demonstrate its capability to meet the evolving needs of the global energy market while contributing to the long-term growth of Brunei’s energy sector. We look forward to a continued, mutually beneficial collaboration with Vitol.”

Pablo Galante Escobar, Head of LNG and EMEA Gas and Power at Vitol, said:

“We are delighted to extend our long-term LNG SPA with BEST, a highly respected and important partner. We look forward to strengthening our partnership with BEST and Brunei Darussalam and working on further opportunities. Vitol is committed to offering reliable and flexible LNG solutions to customers worldwide.”

About Vitol

Vitol is a leader in the energy sector with a presence across the spectrum: from oil through to power, renewables and carbon. It trades 7.4 million barrels per day of crude oil and products, and charters circa 6,000 sea voyages every year.
Vitol’s clients include national oil companies, multinationals, leading industrial companies and utilities.
Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally including: 17 m m3 of storage globally, circa 500 k b/d of refining capacity, over 7,000 service stations and a growing portfolio of transitional and renewable energy assets.

About Brunei Energy Services & Trading (BEST)

Brunei Energy Services & Trading Sdn Bhd, also known as BEST, was formerly known as PB Trading Sendirian Berhad which was established on 10th January 2012 and rebranded to become BEST on 29th September 2020. We are a wholly owned subsidiary of Brunei Energy Holdings Sdn Bhd (BEH); which is wholly owned by the Government of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam under the Minister for Finance Corporation (MOFC).