Doha: Qatargas Operating Company Limited (Qatargas) announced yesterday that Qatar Liquefied Gas Company Limited 3 (Qatargas 3) has entered into a new long term LNG Sale and Purchase Agreement (SPA) with Tohoku Electric Power Company, Incorporated (Tohoku Electric).
The agreement was signed by the Minister of Energy and Industry and Chairman of the Board of Qatargas 3, H E Dr Mohammed bin Saleh Al Sada, and Makoto Kaiwa, Representative Director and President of Tohoku Electric.
Under the terms of the SPA, Qatargas 3 will deliver LNG to Tohoku Electric for a period of 15 years starting from 2016, building up to a plateau volume of 0.18 million tonnes per annum (mtpa) from 2019 onwards.
The LNG will be supplied from Qatargas 3 (Train 6), a joint venture between Qatar Petroleum, ConocoPhillips and Mitsui & Co Ltd, which started production in January 2010, and will be delivered on board Q-Flex LNG vessels.
Dr Al Sada welcomed the agreement as another contribution towards global energy security. “This agreement reinforces our strong relationship with one of Qatargas’ foundation customers and demonstrates our continued commitment to long-term LNG supplies to Japan.
“As the largest LNG producing company in the world, Qatargas is committed to providing reliable energy supplies to all four corners of the world,” Dr Al Sada said.
Khalid bin Khalifa Al Thani, Qatargas Chief Executive Officer said: “Today, we have achieved a significant milestone in our excellent partnership with Tohoku Electric, which started in 1994 when we signed an agreement with a consortium of Japanese buyers including Tohoku Electric, a Qatargas press release said yesterday.
Tohoku Electric is one of the original eight Japanese buyers which signed contracts with the Qatargas 1 joint venture in 1994. In December 2007, Tohoku Electric became the first Japanese utility company to receive a cargo of LNG on-board a Q-Flex vessel.
QNA
