Under the terms of the agreement, Qatar Terminal Ltd (QTL) – a subsidiary of Qatar Petroleum – will reportedly subscribe to the full capacity at the terminal from the expiry of the existing long-term unloading contracts and up to 2044.
According to the statement, the transaction follows a competitive evaluation process, as well as the approval of the Belgian regulators.
QTL is already a party to an existing agreement under which approximately 50% of the terminal’s capacity is utilised for delivery of Qatari LNG into Belgium under long-term LNG agreements.
Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and the President & CEO of Qatar Petroleum, said: “We are delighted to sign this landmark agreement today to extend and expand our existing long-term partnership with Fluxys Belgium for decades to come. We believe this arrangement will further support our customers in Belgium and Europe in general, by providing access to reliable LNG supplies from Qatar and allowing our customers to maximise the utilisation of such supplies.”
“Qatar Petroleum has long invested in and anchored LNG receiving terminal capacity in Europe, a key gas market, as part of our supply destination portfolio diversification strategy. We continue to be committed to supporting the EU’s energy policies and providing reliable energy supplies into Europe. I would like to take this opportunity to thank the concerned Belgian authorities for their support, and we thank Fluxys for their valuable partnership over the years. I am confident that the successful ‘Open Season’ process, this new capacity and the revised tariff arrangements will, in no doubt, enhance the position of Zeebrugge amongst the most commercially competitive terminals in Europe.”
Marie Christine Marghem, the Belgian Federal Minister of Energy, Environment & Sustainable Development, added: “I am glad that our two countries have been able to develop a close and successful cooperation in this matter. Qatar is the only gas producing country with long-term contracts for imports of LNG into North West Europe. Approximately 15% of our gas consumption comes from Qatar. This also demonstrates the solidity of our partnership. I will ensure that we will continue to enhance our mutual confidence and relationship for the successful cooperation between our two countries.”
Pascal De Buck, Chairman of the Executive Board and CEO of Fluxys Belgium, said: “Today is a milestone for Fluxys Belgium. This agreement further extends our long-standing cooperation with our Qatari partners, secures long-term activity at the Zeebrugge terminal and further strengthens the facility’s position as a versatile LNG gateway into Europe offering customers optimum destination flexibility. Ample pipe gas take away capacity from the terminal is readily available for delivery throughout North-West Europe as well as a range of options for downstream small-scale LNG distribution.”
Read the article online at: https://www.lngindustry.com/regasification/03092019/qatar-petroleum-books-lng-regasification-capacity-at-zeebrugge-terminal/
You might also like
Woodside has signed a binding sale and purchase agreement with JERA for the sale of a 15.1% non-operating participating interest in the Scarborough joint venture.