QP & Dolphin Energy Sign LNG Sale & Purchase Agreement

Source: www.gulfoilandgas.com 10/5/2016, Location: Middle East

Under the patronage and in the presence of His Excellency the Prime Minister and Minister of the Interior Sheikh Abdullah Bin Nasser Bin Khalifa Al-Thani, Qatar Petroleum (QP) and Dolphin Energy Limited (Dolphin) entered into a new long term gas sale and purchase agreement (SPA), under which QP will deliver additional quantities of gas to Dolphin for export to the UAE through the existing 48-inch subsea pipeline.

The ceremony was also attended by H.E. Dr. Sultan Bin Ahmed Al Jaber Minister of State in the United Arab Emirates, and Chief Executive Officer of Abu Dhabi National Oil Company (ADNOC).

The agreement was reached and signed in the framework of the brotherly relations and cooperation between the State of Qatar and the United Arab Emirates, and in line with the goals set by the wise leaderships of both countries to expand areas of cooperation and pursue of mutually beneficial opportunities between them in all fields, especially in the field of energy.

The SPA was signed today in Doha by Mr. Saad Sherida Al-Kaabi, President and CEO of QP and Mr. Ahmed Ali Al Sayegh, Managing Director of Dolphin.

Mr. Saad Al-Kaabi, QP President and CEO described the agreement as another important achievement for the first cross-border gas pipeline project in the Middle East demonstrating Qatar’s continued commitment to regional energy cooperation. Mr. Al-Kaabi said: “This agreement reinforces confidence in Qatar as a reliable regional and international supplier of gas as a clean energy source.” Mr. Al-Kaabi also stressed QP’s commitment to meeting the UAE’s rising demand for gas. He added

“QP’s support of the flagship Dolphin Gas Project has been instrumental in meeting the gas requirements of our brothers in the United Arab Emirates, and this new agreement is another strong testament to our commitment in this regard.” Mr. Al-Kaabi concluded.

Commenting on the occasion, Mr. Ahmed Al Sayegh, Dolphin Managing Director, said: “These developments help support the UAE’s development and transition to a low carbon economy and demonstrate our continued commitment to enhance energy security for the UAE by offering a source of reliable, clean energy for power generation.

The success of the Dolphin Gas Project is, in part, driven by our ability to meet the needs of our customers. As their requirements have changed, so we have responded accordingly and worked closely with our strategic partner, QP, to make this possible. This agreement also illustrates the strong bond we share with our brothers in Qatar and I would like to take this opportunity to thank QP whose continuous support has helped create a new chapter in our successful history. This is a proud day for us all.”

The Supply of the additional gas quantities under this new agreement will be allocated to SEWA and RAKGAS LLC using the existing UAE Eastern Gas Distribution Network.

Dolphin started gas supply to the UAE in July 2007 and in February 2008, achieved full throughput of 2 billion standard cubic feet per day. Last year, the company upgraded its compression facilities and installed three new export gas compressors at its gas processing plant in Ras Laffan to match its export gas pipeline’s supply capacity of 3.2 billion standard cubic feet per day.?

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