KUALA LUMPUR: AGAPE ATP Corporation, through its subsidiary ATPC Green Energy Sdn Bhd, has entered into two sales and purchase agreements (SPAs) with an aggregate value of approximately US$24 billion (RM106.56 billion) with Swiss One Oil & Gas AG.
In a statement today, Agape ATP said these SPAs build upon an earlier Initial Corporate Purchase Order (ICPO) signed in February 2025, which laid the foundation for the procurement and supply of refined fuels, including Jet Fuel A1 and EN590 10PPM diesel.
"The ICPO covered a trial shipment of 100,000 tonnes of EN590 10PPM diesel and one million barrels of Jet Fuel A1. The successful completion of this phase has now led to long-term structured agreements between the parties,” it said.
Under the terms of the SPAs, ATPC Green Energy will supply EN590 10PPM diesel and Jet Fuel A1 to Swiss One over 12 months plus rolls and extensions, with an initial trial order comprising 200,000 tonnes of EN590 10PPM diesel and two million barrels of Jet Fuel A1.
"The trial shipment is scheduled to commence in March 2025. Upon successful completion of the trial, the contract will transition into full-scale supply, with weekly deliveries of 500,000 metric tonnes of EN590 10PPM diesel and two million barrels of Jet Fuel A1 to meet growing global demand.
"All deliveries will be executed through free on board (FOB) procedures at major international ports, ensuring seamless logistics and adherence to international trade protocols,” Agape ATP said.
It added that the agreement also maintains compliance with global quality standards, with SGS or equivalent inspection authorities conducting independent quality assessments to ensure that the fuel meets ASTM/IP international standards. - Bernama
