Vitol has struck a deal to buy 0.7m tonnes of LNG per year from Cheniere Energy of the US.

The trader and shipowner said it will take the gas on a free-on-board basis for 15 years, starting in 2018.

The purchase price is indexed to the monthly Henry Hub price, plus a fee.

Vitol group CEO Russell Hardy said: “We are delighted to be working with Cheniere, a pioneer in US liquefaction.