South Korea's Korea Midland Power (KOMIPO) and Vitol Asia have signed a memorandum of understanding (MOU) on cooperation in various sectors including liquefied natural gas (LNG). Under an existing long-term Supply and Purchase Agreement (SPA), signed in 2015, Vitol agreed to supply KOMIPO with 400,000 tons of LNG annually for 10 years, said a press release from Vitol. Hyung Koo Park, President and CEO of KOMIPO said, "KOMIPO looks forward to developing its relationship with Vitol, our trusted partner in the LNG business."