Doha, July 12 (QNA) - Qatar Petroleum signed on Monday a new, 20- year Sale and Purchase Agreement (SPA) with Korea Gas Corporation (KOGAS) for the supply of 2 million tons per annum (MTPA) of (LNG) to the Republic of Korea.
The agreement was signed by HE Minister of State for Energy Affairs, President and CEO of Qatar Petroleum Saad bin Sherida Al Kaabi, and the President and CEO of KOGAS Hee- Bong Chae, during a special ceremony held at Qatar Petroleum's headquarter. The ceremony was attended by senior executives from KOGAS, Qatar Petroleum and Qatargas.
Pursuant to the SPA, LNG supplies will commence in Jan. 2025, and will be delivered to KOGAS' LNG receiving terminals in the Republic of Korea.
On this occasion, HE Eng. Al Kaabi stated that we are both proud and delighted to continue to serve as a major LNG supplier to KOGAS and the Republic of Korea.Today's agreement is another step in the historic partnership journey with KOGAS, which we hope to take to new heights.
His Excellency added that we are grateful to KOGAS for being such a great partner and customer, and we welcome this opportunity to further cement our commercial partnership with KOGAS and to support the Republic of Korea's national drive toward cleaner and more sustainable energy.
His excellency extended his thanks to the teams of KOGAS, Qatar Petroleum and Qatargas for their great efforts to conclude this agreement. He also expressed his appreciation to the CEO of Qatargas Sheikh Khalid bin Khalifa Al-Thani, his leadership team and the whole Qatargas organization for their exceptional efforts to maintain Qatar's reputation as the most trusted and reliable LNG supplier in the world.
Monday's signing comes almost 26 years following KOGAS' signing of its first ever LNG SPA from the State of Qatar. Currently, the State of Qatar supplies KOGAS with more than 9 MTPA through long- term agreements, making it the largest supplier of LNG to the Republic of Korea and demonstrating its commitment to meeting the clean energy requirement of customers around the globe who depends on reliable LNG deliverers.
It's to be mentioned that since1999, Qatar Petroleum's LNG ventures have delivered more than 2500 LNG cargoes, totaling almost 185 million tons, to the republic of Korea. (QNA)