Qatargas and PETRONAS sign 5 year LNG SPA agreement

Qatargas, the World’s premier liquefied natural gas company, has recently announced the signing of a new five-year liquefied natural gas (LNG) sale and purchase agreement (SPA) with PETRONAS LNG UK Limited (PLUK).

Under the terms of the new SPA, Qatargas will deliver LNG to PLUK until 31 December 2023, an extension of its current contract due to expire on 31 December 2018.

Saad Sherida Al-Kaabi, Chairman of Qatargas Board of Directors, said, “I am delighted to announce that by this agreement, Qatargas has extended its strong relationship with PETRONAS for many years into the future. This extension will enhance Qatar’s leading position in the LNG market, and will further reinforce Qatargas’ commitment to meeting the needs of its customers of this clean energy source."

He added, “Most importantly, this agreement is a testament to our proven ability to safely and reliably deliver LNG to customers not only in the United Kingdom but all over the world.”

Ahmad Adly Alias, PETRONAS Vice President of LNG Marketing and Trading, said that the extension of the agreement proves the value of a long-term LNG business relationship for both PETRONAS and Qatargas: “As a buyer and seller of LNG, PETRONAS looks forward to enhancing a mutually-beneficial partnership with Qatargas for value added opportunities amidst the current business environment.”

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