Vitol and IRH sign 20-year, 1.0 mtpa LNG SPA
- Vitol will supply 1.0 million tonnes per annum (mtpa) of LNG to IRH under the agreement.
- The contract term is 20 years with deliveries on a free on-board (FOB) basis.
- The counterparty is IRH Global Trading Ltd., a subsidiary of International Resources Holding (IRH).
- The SPA follows an earlier announcement made on 5 November 2025.
Deal terms
Vitol Inc. and IRH Global Trading Ltd., a subsidiary of International Resources Holding, have executed a natural gas Sale and Purchase Agreement under which Vitol will supply 1.0 million tonnes per annum of LNG on a free on-board basis to IRH for a period of 20 years.
Background
The agreement follows a prior announcement of 5 November 2025 and is positioned to reinforce IRH’s long-term commitment to securing reliable and diversified energy supply to meet growing global demand.
Executive comments
Pablo Galante Escobar, Global Head of LNG and European Gas & Power at Vitol, said the company is "excited to conclude this agreement," noting Vitol’s long-standing commitment to deliver LNG safely and reliably by leveraging its robust and diverse long-term LNG portfolio.
Ali Rashed Al Rashdi, CEO of IRH, described the deal as "an important step" in IRH’s strategy to build a diversified, resilient and globally integrated LNG portfolio and said partnering with Vitol secures reliable long-term supply while strengthening IRH’s presence across key international gas markets.