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Qatargas 2 signs long-term LNG SPA with PSO

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LNG Industry,

Qatar Liquefied Gas Co. Ltd (2) (Qatargas 2) – a joint venture (JV) between Qatar Petroleum, ExxonMobil and Total – has released a statement claiming that it has signed a long-term sales and purchase agreement (SPA) to supply LNG to Pakistan State Oil Co. Ltd (PSO). Under the SPA, 3.75 million tpy of LNG will be provided to PSO for a 15-year period, commencing March 2016.

Mr. Saad Sherida Al-Kaabi, the Chairman of the Qatargas Board of Directors, said: “The State of Qatar under the leadership and guidance of His Highness Sheikh Tamim Bin Hamad Al-Thani, the Emir of the State of Qatar is constantly looking to expand and enhance its LNG market share, while at the same time helping countries around the world meet their growing energy needs. I’m very proud to welcome Pakistan to our customer portfolio, and would like to thank His Excellency Mr. Shahid Khaqan Abbasi, Pakistan’s Minister of Petroleum and Natural Resources, who, along with the leadership in Pakistan, has been instrumental in achieving this important milestone.

“I would like to take this opportunity to register my sincere appreciation to Sheikh Khalid Bin Khalifa Al-Thani, Chief Executive Officer of Qatargas, and his team for their excellent work to finalise this important agreement.”

Sheikh Khalid Bin Khalifa Al-Thani, the CEO of Qatargas Operating Co. Ltd, added: “Emanating from our vision to establish new markets with a new portfolio of customers, the signing of this agreement represents a momentous occasion for Qatargas as we continue to play a key role as a world leader in the supply of clean, reliable energy to global markets. After delivering the commissioning cargo in April last year, we are delighted that our discussions with PSO regarding a long-term agreement have come to fruition. Taking this opportunity, we thank the team at PSO for their hard work and we look forward to a strong and enduring partnership with PSO and Pakistan.”

Qatargas delivered its first commissioning cargo to PSO in April 2015 via the Excelerate Exquisite floating storage and regasification unit (FSRU).

Edited from press release by David Rowlands

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