Qatargas and Petronas sign new 5-year LNG SPA
Photo courtesy of Qatargas.
Qatargas has signed a new five-year LNG sale and purchase agreement (SPA) with Petronas LNG UK Ltd. (PLUK).
Under the terms of the new SPA, Qatargas will deliver LNG to PLUK until December 31, 2023, an extension of its current contract due to expire on December 31, 2018.
A total of 1.1 MMtpy is secured for a partnership that will now extend to a decade-long supply of LNG to the UK-based entity.
The LNG will be supplied from Qatargas 4 (Train 7), a JV between Qatar Petroleum and Shell which started production in January, 2011, and will be delivered on board Q-Flex LNG vessels to Dragon LNG terminal at Milford Haven, United Kingdom.
PLUK is the Atlantic basin-focused LNG trading subsidiary of Petronas, the national oil and gas company of Malaysia. PLUK is also responsible for securing LNG supplies into Dragon LNG terminal where Petronas owns 50% equity and capacity stake.
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