Russian oil major Rosneft (ROSN.RS) and commodity-trading firm Vitol Friday signed a non-binding agreement regarding cooperation in liquefied natural gas (LNG) at the St. Petersburg Economic Forum.

Following the new agreement, Vitol will become a large strategic buyer of LNG from Rosneft's planned facility in the Russian Far East.

The supplies of LNG, which are expected to start in 2019, will enable Vitol to serve clients across the Asia-Pacific region.

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