Doha - Qatar, 10 February 2016

Qatar Liquefied Gas Company Limited (2) ("Qatargas 2") signed  a long-term agreement to supply Pakistan State Oil Company Limited (PSO) with  Liquefied Natural Gas (LNG).

The Sales and Purchase Agreement (SPA) was signed by  Mr. Saad Sherida Al-Kaabi, Qatar Petroleum President & CEO, and Chairman of Qatargas Board of Directors, and Mr. Sheikh Imran ul Haque, Managing Director & Chief Executive Officer of PSO. 

Under the terms of the agreement, Qatargas 2 will supply 3.75 million tonnes per annum (MTPA) of LNG to PSO for a period of 15 years with the first cargo expected to be delivered in March 2016.  

Mr. Saad Sherida Al-Kaabi, Chairman of Qatargas Board of Directors described the agreement as "a very important milestone in Qatar's standing as a reliable energy supplier as it marks the first direct long term agreement between the two companies."

Mr. Al-Kaabi said: "The State of Qatar Under the leadership and guidance of His Highness Sheikh Tamim Bin Hamad Al-Thani the Emir of the State of Qatar is constantly looking to expand and enhance its LNG market share while at the same time helping countries around the world meet their growing energy needs. I'm very proud to welcome Pakistan to our customer portfolio, and would like to thank His Excellency Mr. Shahid Khaqan Abbasi, Pakistan's Minister of Petroleum and Natural Resources, who along with the leadership in Pakistan, have been instrumental in achieving this important milestone."

"I would like to take this opportunity to register my sincere appreciation to Sheikh Khalid Bin Khalifa Al-Thani, Chief Executive Officer of Qatargas, and his team for their excellent work to finalize this important agreement," Mr. Al-Kaabi added.

On his part, Sheikh Khalid Bin Khalifa Al-Thani, Chief Executive Officer of Qatargas Operating Company Limited, said:

"Emanating from our vision to establish new markets with a new portfolio of customers, the signing of this agreement represents a momentous occasion for Qatargas as we continue to play a key role as a world leader in the supply of clean, reliable energy to global markets. After delivering the commissioning cargo in April last year, we are delighted that our discussions with PSO regarding a long term agreement have come to fruition. Taking this opportunity, we thank the team at PSO for their hard work and we look forward to a strong and enduring partnership with PSO and Pakistan."

In April 2015, Qatargas delivered the first commissioning cargo to PSO onboard the LNG vessel, Excelerate Exquisite, the Floating Storage and Regasification Unit (FSRU), moored at Port Qassim as part of the Elengy LNG terminal, Pakistan's first LNG import terminal.

Qatargas 2, a joint venture between Qatar Petroleum, ExxonMobil and Total which started production in 2009, is committed to reliable supplies of clean, safe and highly efficient source of energy. Pakistan is an important nation with continuous strong economic growth and a promising energy market.

One of the key strengths of Qatargas has been the development of considerable expertise in supporting the commissioning of new LNG Receiving Terminals globally. To date the Company has helped commission 17 LNG terminals across the Americas, Europe and Asia.

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About Qatargas
Qatargas, established in 1984, pioneered the Liquefied Natural Gas (LNG) industry in Qatar and today is the largest producer of LNG in the world with an annual production capacity of 42 million tonnes per annum (MTPA) from its world-class facilities in Ras Laffan Industrial City, Qatar. Since first production in 1996, Qatargas has successfully delivered cargos to 28 countries and is committed to meeting the world's demand for safe, reliable and clean energy. Through its operational excellence Qatargas is adding value to its production chain, contributing to the Qatari economy and Qatar's National Vision to ensure efficient energy supplies for the country, creating new markets and contributing to the local community. In addition to the LNG facilities, Qatargas operates the Jetty Boil-Off Gas facility, the Laffan Refinery, one of the largest condensate refineries in the world, and the Ras Laffan Terminal on behalf of all participants.

For media enquiries please contact:
Mariana Diaz, Tel: +974 3320 6421 MDiaz@qatargas.com.qa

Thajudeen Aliar, Tel: +974 3340 6474 TAliar@qatargas.com.qa

© Press Release 2016