State-controlled Qatargas has signed a five-year sales and purchase agreement (SPA) with Petronas LNG (UK) to supply 1.14mn tons/year of LNG. The SPA breaks with a recent trend that saw Qatari gas shift from Europe and the US, where demand is falling, to the Asia-Pacific market.
Under the terms of the deal, Qatargas-4 – a joint venture, 70% controlled by Qatar Petroleum (QP) and 30% Shell – will supply Petronas’ Dragon LNG Terminal in Wales from January 2014; however, the deal is flexible and will allow Qatar to divert its supply to other customers for a fee. (CONTINUED - 317 WORDS)
