Qatar­gas to in­crease LNG sup­ply to Pak­istan through GEIL

Pakistan Observer - - ECONOMY WATCH -

OB­SERVER RE­PORT DOHA—Qatar­gas, the World’s Pre­mier LNG Com­pany, today an­nounced a long-term Sale and Pur­chase Agree­ment (SPA) with Global En­ergy In­fra­struc­ture Lim­ited (GEIL). Un­der the terms of the agree­ment, Qatar­gas will sup­ply 1.3 mil­lion tonnes per an­num of Liq­ue­fied Nat­u­ral Gas (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. He 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 ob­jec­tive to 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 20year deal with GEIL for 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 GEIL to 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, Exxon Mo­bil and To­tal which started pro­duc­tion in 2009.

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