DOHA: Qatargas, the world’s largest producer of Liquefied Natural Gas (LNG), yesterday announced a long-term Sale and Purchase Agreement (SPA) with Global Energy Infrastructure Limited (GEIL) to meet the growing appetite of clean energy in Pakistan.
Under the terms of the agreement, Qatargas will supply 1.3 million tonnes per annum of 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. Al Kaabi 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 objectiveto 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 GEILfor 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 GEILto Qatargas’ expanding client portfolio, and I look forward to our respective teams working together as we safely and reliably supply LNG to Pakistan.” Qatargas 2, a joint venture between Qatar Petroleum, ExxonMobil and Total which started production in 2009, is committed to reliable supplies of clean, safe and highly efficient source of energy.
