QP Signs 15Y SPA to Supply 1.25 MTPA of LNG to CPC Corporation

Source: www.gulfoilandgas.com 7/7/2021, Location: Asia

Qatar Petroleum entered into a 15-year LNG Sale and Purchase Agreement (SPA) with CPC Corporation, Taiwan (CPC) for the supply of 1.25 million tons per annum (MTPA) of LNG.

The SPA was signed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, and Mr. Shun-Chin Lee, the President and Acting Chairman of CPC, during a virtual ceremony attended by Sheikh Khalid bin Khalifa Al Thani, CEO of Qatargas and senior officials from both sides.

Pursuant to the agreement, LNG deliveries will commence in January 2022, and will be delivered to CPC’s receiving LNG terminals. This SPA further demonstrates the State of Qatar’s continued commitment to meeting the growing energy requirements of its customers around the world in the form of reliable long-term LNG supplies.

Commenting on this occasion, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, said, “We are pleased to enter into this long term LNG SPA, which is another milestone in our relationship with CPC, which dates back to almost three decades. We look forward to commencing deliveries under this SPA and to continuing our supplies as a trusted and reliable global LNG provider.”

H.E. Minister Al-Kaabi concluded his remarks by saying, “We are grateful to CPC and all our customers around the world for selecting us as their trusted LNG supplier of choice. I would like to take this opportunity to thank the management of CPC and the negotiating teams from both sides for their efforts in concluding this SPA. I also would like to offer my thanks and gratitude to Sheikh Khalid bin Khalifa Al Thani, CEO of Qatargas, for his valuable contribution, to achieve this important milestone.”

Since the first LNG delivery in March 2006 to date, CPC has received more than 63 million tons of LNG from Qatar.


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