SINGAPORE, Aug 29 (Reuters) - Mexico Pacific said it has signed a long-term sales and purchase agreement with South Korea's Posco International Corp 047050.KS to supply it with liquefied gas (LNG).
POSCO International will purchase 0.7 million tonnes per annum of LNG on a free-on-board (FOB) basis over 20 years, said Mexico Pacific in a statement.
"Mexico Pacific and POSCO International are evaluating additional opportunities to expand upon this initial commercial partnership," the statement added.
Mexico Pacific owns the Saguaro Energia LNG project, which is located in Sonora, Mexico. The project is set to ship 15 million tonnes per annum of LNG to Asia, using gas from the U.S. Permian Basin.
Mexico Pacific has previously signed supply agreements with Exxon Mobil, Woodside Energy and Zhejiang Energy.
(Reporting by Emily Chow; editing by Miral Fahmy)
((emily.chow@thomsonreuters.com; Reuters Messaging: emily.chow.thomsonreuters.com@reuters.))