RasGas & KOGAS Signs LNG Sales & Purchase Agreement

Source: www.gulfoilandgas.com 2/12/2012, Location: Middle East

RasGas Company Limited (RasGas) announced that Ras Laffan Liquefied Natural Gas Company Limited (3) (RL 3) has entered into a new Long Term Liquefied Natural Gas Sales and Purchase Agreement (SPA) with South Korean state-owned energy company Korea Gas Corporation (KOGAS). The agreement was signed by His Excellency Dr Mohammed Bin Saleh Al Sada, Minister of Energy and Industry for the State of Qatar, and Chairman of RasGas and RL 3, and Mr Park Young Sung, KOGAS Executive Vice President and Chief Operating Officer.

Under the terms of the SPA, RL 3 will deliver 2 million tonnes per annum (Mta) of Qatari LNG for 20 years starting in 2013, in addition to incremental medium term volumes from 2012 to 2016. This new agreement complements two existing long term SPAs signed between RasGas ventures and KOGAS in 1995 for 4.9 Mta and in 2007 for 2.1 Mta, bringing the total annual long term SPAs quantities to 9 Mta.

Commenting on the occasion, His Excellency Dr Al Sada said: 'This latest agreement is a perfect example of how Qatari LNG producing ventures continue to respond to our customer's needs through the capabilities and flexibility they have. RasGas is the largest single supplier of LNG to KOGAS and in 2011 delivered approximately 8 million tonnes of LNG in a safe and reliable manner."

His Excellency also added "I'm confident that natural gas is and will continue to be the fuel of choice to meet rapidly expanding and long-term energy requirements in Asia and world-wide, due to its environmental benefits, safety and reliability."

Mr Sung said: "RasGas and KOGAS have long been in a good relationship and this agreement is further evidence of these strong ties and helpful for long-term security of LNG supply to Korea."

Mr Hamad Rashid Al Mohannadi, RasGas Managing Director said: "This agreement is a demonstration of RasGas' capabilities and flexibility to meet market demand. We look forward to continuing our strong and long-term relationship with our foundation customer KOGAS."


Canada >>  8/10/2022 - FortisBC Holdings Inc. (“FortisBC”) and Musqueam Indian Band (“Musqueam”) are announcing the signing of an agreement, which will result in the parties...
Congo >>  8/5/2022 - Eni informs that it has acquired the company Export LNG Ltd, which owns the Tango FLNG floating liquefaction facility, from Exmar group. The facility ...

France >>  8/3/2022 - Alternative data specialist QuantCube Technology announced the availability of the QuantCube Liquefied Natural Gas (LNG) Commodity Trade Indicator. By...
Canada >>  7/29/2022 - Pacific Energy Corporation Limited (Pacific Energy) and Enbridge Inc. (Enbridge or the Company) announced an agreement to jointly invest in the constr...

Italy >>  7/25/2022 - - The aim is to leverage on infrastructure and know-how of both companies, thereby contributing to decarbonisation of transport and off-grid users
United States >>  7/23/2022 - ION Commodities, the global leader in Energy and Commodity management solutions, is delighted that Golden Pass LNG, owned by affiliates of QatarEnergy...

Related Categories: Deodorization system  Gas dehydration  Gas sweetening  Gas Treating  General  GTL Processing  LNG Processing  LPG Domestic use  LPG Odorless  Packing  Phase Separation  Scrubbers 

Related Articles: Gas dehydration  Gas sweetening  Gas Treating  General  GTL Processing  LNG Processing  LPG Domestic use  LPG Odorless  Packing  Phase Separation  Scrubbers 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.