Qatargas has entered into a new, long-term liquefied natural gas (LNG) sale and purchase agreement (SPA) with Shell to deliver 1mn tonnes of LNG per annum to Kuwait, commencing this year.
This new long term agreement between Qatargas and Shell for the supply of LNG to Kuwait follows the recent pact signed between Qatar Petroleum (QP) and Kuwait Petroleum Corporation.
"These agreements demonstrate our commitment to Kuwait, which is a very important LNG market” and is part of its resolve to be the LNG supplier of choice for the customers, HE Minister of State for Energy Affairs Saad bin Sherida al-Kaabi said.
The new SPA also further underlines Qatargas’ position as the market leader in LNG and demonstrates the company’s distinguished track-record of providing reliable LNG to the global market place and its continued ability to capture the opportunities in a highly competitive environment, said al-Kaabi, who is also the president and chief executive of QP.
"Qatargas is delighted to conclude this new SPA with Shell. We believe this agreement provides a win-win solution for both companies and deepens the relationship with a valued partner and shareholder," said Sheikh Khalid bin Khalifa al-Thani, chief executive, Qatargas.
Qatargas is committed to meeting the clean energy needs of customers who depend upon reliable, flexible LNG deliveries and the SPA provides for the supply of LNG from Qatargas 4, a joint venture between QP (70%) and Shell (30%).