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Mon 11 Jun 2012 05:07 PM

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Qatargas inks new LNG deal with Japanese giant

New long-term agreement signed to supply Tokyo Electric Power Company

Qatargas inks new LNG deal with Japanese giant

Qatargas Operating Company (Qatargas) said on Monday it has signed a new long-term agreement to supply liquified natural gas to Japan.

Its unit, Qatar Liquefied Gas Company (Qatargas 1), has entered into a new long-term LNG sales and purchase agreement with Tokyo Electric Power Company (TEPCO), the largest Japanese LNG buyer.

The agreement was signed by Dr Mohammed Bin Saleh Al-Sada, Minister of Energy and Industry and chairman of Qatargas, and Takao Arai, managing director of TEPCO.

This is the first long-term bilateral agreement between TEPCO and Qatargas. Under the agreement, Qatargas 1 will deliver one million tonnes of LNG per year on a long-term basis starting this year.

Japan is one of the biggest importers of LNG and this announcement builds on a partnership between Qatar and Japan which started 40 years ago.

Dr Al-Sada said: "As the largest LNG-producing company in the world, Qatargas is committed to providing reliable energy supplies to all four corners of the world.

"Today's agreement reinforces our strong relationship with one of Qatargas' foundation customers and demonstrates our continued long-term commitment to supply LNG to Japan. We are doing all we can to support Japan's continuous requirement for stable energy supplies."

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