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Update: RWEST confirms seven a half year LNG SPA with Qatargas

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LNG Industry,

Reuters recently reported that German utility RWE Supply & Trading (RWEST) had signed an LNG sale and purchase agreement (SPA) with Qatargas. RWEST has now released a statement confirming these reports.

The agreement is for the delivery of up to 1.1 million tpy of LNG to RWEST for a period of seven a half years. The LNG will be provided from Qatargas 3, which is a joint venture (JV) between Mitsui & Co. Ltd, Qatar Petroleum and ConocoPhillips. Qatargas chartered Q-Flex LNG carriers will deliver the LNG to RWEST.

The CEO of RWEST, Markus Krebber, said: “RWE is a leading global energy company and among the leading energy traders and gas supply companies in Europe. Our company has a strong commitment in building significant partnerships with major global energy companies and with the Middle East being one of our key regions for development, the partnership with Qatargas is of particular significance for us.”

The Chief Commercial Officer of RWEST, Andree Stracke, commented: “We are pleased to welcome Qatargas as an important new partner for RWE and this agreement enhances the diversity of RWE’s European gas portfolio. This agreement is the result of several years of close co-operation between Qatargas and RWEST which has culminated in a contract which provides flexibility for both companies.”

Saad Sherida Al-Kaabi – the Qatar Petroleum President and CEO and Chairman of the Qatargas Board of Directions – added: “Qatargas is committed to providing reliable, clean energy to consumers all over the world. This new milestone underscores our commitment to building new partnerships with leading global companies. We hope Qatargas LNG will contribute to enhance Europe’s energy supplies and energy security.”

Khalid Bin Khalifa Al-Thani, the CEO of Qatargas, said: “Qatargas is delighted to announce a seven and a half year deal with RWEST, a global utility leader. I am particularly pleased to welcome another European partner to our expanding client portfolio, thereby reinforcing Qatargas’ position as the leading supplier of safe and reliable LNG to Europe, and indeed the whole world.”

Edited from various sources by David Rowlands

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