Qatar Liquefied Gas Company Ltd (4) (Qatargas 4) and E.ON Global Commodities SE (E.ON) have signed a flexible sales and purchase agreement (SPA) for five years starting in January 2014. The SPA will cover a volume of approximately 1.5 million tpa of LNG.
The LNG will come from Qatargas 4 (Train 7), a joint venture between Qatar Petroleum and Shell. The LNG will be delivered on-board Q-Max LNG vessels to the Gate LNG Terminal in Rotterdam, the Netherlands.
His Excellency Dr. Mohammed Bin Saleh Al-Sada, Minister of Energy & Industry and Chairman of the Board of Directors of Qatargas, signed the SPA on behalf of Qatargas 4, while Christopher Delbrück, CEO of E.ON Global Commodities SE, and Richard Baylis, Director of LNG, E.ON Global Commodities SE, signed on behalf of E.ON. Klaus Schäfer, CFO of E.ON SE, also took part in the ceremony in Doha.
His Excellency Dr. Mohammed Bin Saleh Al-Sada, Minister of Energy & Industry and Chairman of the Board of Directors of Qatargas, said: “We are very pleased with this agreement as it marks the beginning of a relationship between Qatargas, the largest LNG producing company in the world, and E.ON SE, one of the world’s largest investor-owned power and gas companies.”
Richard Baylis, Director of LNG, E.ON Global Commodities SE, added: "The deal works well because it utilises our existing regasification position and provides Qatargas with access to arguably the most diverse European end user portfolio and, as a result, a new commercial home for their volumes.”
Qatargas delivered its first LNG cargo to The Gate receiving terminal in July 2013 under a Master Sales and Purchase Agreement (MSPA) signed between the two companies in 2011.
Edited from various sources by Callum O'Reilly
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