Regional LNG: Qatargas, Pakistan firm sign long-term LNG supply agreement

By Romel S. Gurky

Qatar Liquefied Gas Company Limited (2) (Qatargas 2) said Wednesday it has signed long-term agreement to supply Pakistan State Oil Company Limited (PSO) with Liquefied Natural Gas (LNG).

Qatargas 2 said in a statement that the Sales and Purchase Agreement (SPA) was signed by Saad Sherida Al-Kaabi, Qatar Petroleum President & CEO, and Chairman of Qatargas Board of Directors, and Sheikh Imran ul Haque, Managing Director & Chief Executive Officer of PSO.

Under the terms of the agreement, Qatargas 2 will supply 3.75 million tons per annum (MTPA) of LNG to PSO for a period of 15 years with the first cargo expected to be delivered in March 2016.

Saad Sherida Al-Kaabi, Chairman of Qatargas Board of Directors described the agreement as ?a very important milestone in Qatar?s standing as a reliable energy supplier as it marks the first direct long term agreement between the two companies.?

In April 2015, Qatargas delivered the first commissioning cargo to PSO onboard the LNG vessel, Excelerate Exquisite, the Floating Storage and Regasification Unit (FSRU), moored at Port Qassim as part of the Elengy LNG terminal, Pakistan?s first LNG import terminal.

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. Pakistan is an important nation with continuous strong economic growth and a promising energy market.

One of the key strengths of Qatargas has been the development of considerable expertise in supporting the commissioning of new LNG Receiving Terminals globally. To date the Company has helped commission 17 LNG terminals across the Americas, Europe and Asia.

Editing by Reiner Simanjuntak