Page 11 - GLNG Week 49 2021

GLNG MIDDLE EAST GLNG

QatarEnergy signs more LNG supply

deals with Chinese buyers

PROJECTS & QATARENERGY this week signed its eighth The deals follow a string of six long-term
COMPANIES and ninth LNG supply deals of the year and its agreements with companies in China, Pakistan,
first two since rebranding from Qatar Petro- South Korea and Taiwan between February and
leum. On December 7, it announced the signing September, covering a total of 12.75mn tpy of
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 The deals follow
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. a string of
Qatar’s Energy Minister and the presi- Unsurprisingly, all of these agreements have
dent and CEO of QatarEnergy, Saad Sherida been signed with Asian countries as Qatar seeks six long-term
Al-Kaabi, said: “This agreement further demon- to strengthen its position in the region as its
strates our commitment to continue to be a North Field Expansion (NFE) project increases agreements with
trusted and reliable energy partner for the Peo- the emirate’s liquefaction capacity from 79mn companies in
ple’s Republic 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- China, Pakistan,
on December 8 of a 15-year deal with S&T which gle-largest LNG project. QP took a final invest-
will entail the delivery of 1mn tpy of LNG from ment decision (FID) on NFE alone earlier this South Korea and
Qatar Liquefied Gas Co. starting in late 2022. year having previously relied on IOCs’ exper-
Noting that QatarEnergy was “pleased to tise – as well as their investments – to develop Taiwan.
welcome S&T into our family of long-term LNG its initial liquefaction capacity, but now has the
customers”, Al-Kaabi reiterated his previous 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.™

Week 49 10•December•2021 www. NEWSBASE .com P11