Vitol, IRH Finalize 20-Year LNG Supply Agreement

Vitol and IRH have finalized a 20-year LNG sale and purchase agreement covering 1 million tonnes per year, formalizing a deal first announced in late 2025.

(P&GJ) — Vitol and IRH Global Trading Ltd., a subsidiary of International Resources Holding (IRH), have executed a 20-year liquefied natural gas (LNG) sale and purchase agreement (SPA), formalizing a long-term supply arrangement first announced in November 2025.

Under the agreement, Vitol will supply 1 million tonnes per year (MMtpy) of LNG to IRH on a free-on-board (FOB) basis for 20 years. The companies said the contract is intended to support IRH's strategy of expanding its long-term LNG portfolio while securing reliable gas supplies for global markets.

"We are excited to conclude this agreement," said Pablo Galante Escobar, Vitol's global head of LNG and European gas and power. "Vitol has a longstanding commitment to deliver LNG safely and reliably to customers worldwide by leveraging its robust and diverse long-term LNG portfolio."

The agreement converts a previously announced framework between the companies into a binding LNG supply contract.

IRH CEO Ali Rashed Al Rashdi said the deal supports the company's long-term LNG growth strategy.

"This agreement represents an important step in IRH's long-term strategy to build a diversified, resilient and globally integrated LNG portfolio," Al Rashdi said.

The agreement follows an announcement made in November 2025, when the companies disclosed plans to enter into the long-term LNG supply arrangement.