Vector Limited (VCT) and New Zealand Oil and Gas (NZOG) announced today that they have signed a long term contract for LPG supply.Under the agreement, Vector will purchase NZOG's ongoing daily entitlements to LPG production from the Kupe Oil & Gas field. The terms agreed are for the supply of approximately 15,000 tonnes per annum of LPG for a minimum of 10 years and a maximum of 15 years. The sales agreement is conditional upon the Kupe joint venture parties reaching a satisfactory agreement upon the operational procedures for each party to take or lift its LPG entitlement from the field. Were pleased to announce this contract, said Vector Group Chief Executive Officer Simon Mackenzie. Its a valuable addition to Vectors existing LPG entitlements at Kapuni, that allows Vector to maintain a competitive position in the LPG market This contract displaces LPG that would have otherwise been imported, with New Zealand sourced gas; an important consideration at times of volatile energy prices and exchange rates and concerns around security of energy supply, said Mr Mackenzie. NZOG Chief Executive David Salisbury said the sales agreement is a great outcome for NZOG. We are delighted to have concluded a long term arrangement for the sale of our Kupe LPG at competitive prices and with a highly regarded business partner.