Qatargas has announced a long-term Sale and Purchase Agreement (SPA) with Global Energy Infrastructure Limited (GEIL). Under the terms of the agreement, Qatargas will supply 1.3 million tonnes per annum of Liquefied Natural Gas (LNG) to Pakistan for 20 years, with provisions allowing the volume to increase to 2.3 million tonnes per annum.
The LNG will be supplied from Qatargas 2, the world’s first fully integrated LNG value chain venture, with the first cargo expected to be delivered to Pakistan in 2018 by Qatargas- chartered Q-Flex vessels.
Saad Sherida Al-Kaabi, Chairman of Qatargas Board of Directors, reaffirmed the commitment of Qatargas to provide clean and reliable energy to customers. He said:
“We are proud to support countries in their desire to enhance their energy security. This new agreement reinforces our confidence in Pakistan as an energy market and in its potential. Qatar, as the world’s largest exporter of LNG, has been able to achieve its strategic objective to diversify its export base to include major gas markets, and to be a leader in the supply of a clean energy source that will help reduce greenhouse gas emissions and protect the environment.”
Commenting on the newly signed deal, Khalid Bin Khalifa Al-Thani, Chief Executive Officer of Qatargas, said:
“Qatargas is delighted to announce a 20-year deal with GEIL for the supply of LNG into Pakistan. I am particularly pleased to strengthen our relationship with Pakistan, which continues to grow as an important market in the LNG industry. I would also like to welcome GEIL to Qatargas’ expanding client portfolio, and I look forward to our respective teams working together as we safely and reliably supply LNG to Pakistan.”
Source & Image credit: Qatargas
