Page 6 - MEOG Week 49 2021

MEOG PIPELINES & TRANSPORT MEOG

QatarEnergy signs

more LNG supply deals

QATAR QATARENERGY this week signed its eighth The deals follow a string of six long-term
and ninth LNG supply deals of the year and its agreements with companies in China, Pakistan,
first two since rebranding from Qatar Petroleum. South Korea and Taiwan between February and
On December 7, it announced the signing of September, covering a total of 12.75mn tpy of
a 10-year supply deal with China’s Guangdong LNG cargoes beginning in January 2022.
Energy Group Natural Gas Co. (GEG), following At 52.5mn tonnes, the CNOOC contract is
up with a 15-year deal to supply another Chinese the largest by volume, entailing 3.5mn tpy over a
firm S&T International (S&T) the next day. period of 15 years.
In an official statement, QatarEnergy said its The total volume covered by the eight long-
LNG producing affiliate Ras Laffan Liquefied term deals signed this year amounts to 196.25mn
Natural Gas Co. had agreed a long-term sale and tonnes of LNG, with an agreement to deliver
purchase agreement (SPA) with GEG for the LNG to Vitol in Bangladesh disclosing only that
supply of 1mn tonnes per year (tpy) of LNG to it would kick off late this year and cover 1.25mn
China over a 10-year period starting in 2024. tpy.
HE Saad Sherida Al-Kaabi, Qatar’s Energy Unsurprisingly, all of these agreements have
Minister and the president and CEO of QatarEn- been signed with Asian countries as Qatar seeks
ergy, said: “This agreement further demonstrates to strengthen its position in the region as its
our commitment to continue to be a trusted and North Field Expansion (NFE) project increases
reliable energy partner for the People’s Republic the emirate’s liquefaction capacity from 79mn
of China.” tpy currently to 110mn tpy by 2025/26 and
This was further exemplified by the signing 126mn tpy by 2027. NFE is the world’s sin-
on December 8 of a 15-year deal with S&T which gle-largest LNG project.
will entail the delivery of 1mn tpy of LNG from QP took a final investment decision (FID)
Qatar Liquefied Gas Co. starting in late 2022. on NFE alone earlier this year having previously
Noting that QatarEnergy was “pleased to relied on IOCs’ expertise – as well as their invest-
welcome S&T into our family of long-term LNG ments – to develop its initial liquefaction capac-
customers”, Al-Kaabi reiterated his previous ity, but now has the expertise to go it alone.
comments about strengthening relations with Qatar is also increasing its role in its own
China. regional market with a 15-year, 3mn tpy sup-
The Qatari company said the LNG would be ply deal with Kuwait Petroleum Corp. (KPC)
transported primarily to the Dapeng and Zhu- also beginning in January, the first long-term
hai LNG receiving terminals for GEG and to agreement signed for Kuwait’s new LNG Import
Tangshan LNG receiving terminal for S&T via (LNGI) terminal, which is expected to achieve
Qatar’s fleet of Q-Flex and Q-Max LNG vessels. commercial launch in March.™

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M Month C Customer r D Destination n D Duration (yrs) ) S Start Date A Annual Volume (mmtpa) ) T Total Volume (mmt) )
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Feb-21 Vitol Bangladesh Not disclosed Late-21 1.25 N/A
Feb-21 PSO Pakistan 10 Jan-22 3 30
Mar-21 Sinopec China 10 Jan-22 2 20
Jun-21 Shell China 10 Jan-22 1 10
Jul-21 CPC Taiwan 15 Jan-22 1.25 18.75
Jul-21 KOGAS South Korea 20 Jan-22 2 40
Sep-21 CNOOC China 15 Jan-22 3.5 52.5
Dec-21 Guangdong Energy China 10 2024 1 10
Dec-21 S&T International China 15 Late-24 1 15
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T Total l 1 16 1 196.25
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P6 www. NEWSBASE .com Week 49 08•December•2021