Qatargas, the largest liquefied natural gas (LNG) producing company in the world, inked a long-term Sale and Purchase Agreement (SPA) with Pakistan-based private Global Energy Infrastructure Limited (GEIL), Qatargas stated on Thursday.
鈥淲e are proud to support countries in their desire to enhance their energy security. This new agreement reinforces our confidence in Pakistan as an energy market and in its potential,鈥� said Saad Sherida Al-Kaabi, chairman of Qatargas' board of directors.
According to the signed agreement, Qatargas will annually supply 1.3 million tonnes of LNG to Pakistan with provisions to allow for volume increases of 2.3 million tonnes per annum. The SPA will be valid for 20 years and Pakistan will receive its first LNG cargo in 2018.
鈥淨atargas is delighted to announce a 20-year deal with GEIL for the supply of LNG into Pakistan. I am particularly pleased to strengthen our relationship with Pakistan, which continues to grow as an important market in the LNG industry,鈥� stated Khalid Bin Khalifa Al-Thani, chief executive officer of Qatargas.
Qatargas is the largest LNG producing company in the world with production capacity of 42 million tonnes per annum. GEIL is the subsidiary of Turkish Global Energy Holding and one of Pakistan's three LNG importers.
By Ugur Ertas
Anadolu Agency
ugur.ertas@aa.com.tr
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