Vitol and IRH Finalize 20-Year LNG Supply Agreement for 1.0 MTPA

Vitol Inc. and IRH Global Trading Ltd., a subsidiary of International Resources Holding, have formally executed a 20-year natural gas Sale and Purchase Agreement. The long-term contract follows a prior joint announcement made by the companies on November 5, 2025. Under the terms of the finalized deal, energy trader Vitol will supply 1.0 million tonnes per annum of liquefied natural gas to IRH on a free on-board basis, according to details published by Vitol on June 25, 2026.

The long-term agreement is structured to support IRH’s broader commercial strategy of securing energy supplies to meet expanding global demand. According to statements released by the company, Pablo Galante Escobar, Global Head of LNG and European Gas & Power at Vitol, expressed excitement over concluding the deal with IRH. Escobar highlighted that IRH forms part of the most valuable holding company in the Middle East and one of the world's largest investment firms, noting that Vitol intends to leverage its existing global supply portfolio to ensure safe and reliable deliveries.

From the buyer's perspective, the transaction marks a significant milestone in building out a globally integrated energy portfolio. Ali Rashed Al Rashdi, Chief Executive Officer of IRH, stated that the contract represents an important step in the company's long-term strategy to establish a resilient and diversified gas portfolio. Al Rashdi added that partnering with Vitol enables IRH to secure reliable supply over an extended horizon while strengthening its presence across key international gas markets.

The execution of the 20-year SPA comes alongside broader commercial developments in Vitol's gas portfolio. Company documentation notes that Vitol recently invested in Delfin FLNG 1, which represents the first offshore LNG facility in the United States. Through their finalized agreement, Vitol and IRH Global Trading Ltd. aim to build upon their existing commercial partnership while serving long-term structural demand across international energy markets.