Qatargas formally signed an LNG export deal that would tie up Q-Flex LNG shipping capacity, according to a press release from Qatari producer.
Qatargas chief executive Khalid Bin Khalifa Al-Thani and chairman Saad Sherida Al-Kaabi signed a deal over the weekend in a special ceremony hosted by Pakistan’s Prime Minister Nawaz Sharif, Qatargas said in a statement.
According to the contract, Qatargas will supply 1.3 million tonnes per year of LNG to Pakistan’s Global Energy Infrastructure Limited (GEIL) for a 20-year term. Provisions in the contract allow the volume to increase to 2.3 million tonnes per year. Qatargas did not provide details about the value of the deal, which had a heads of agreement in place since June.
Qatargas’ Al-Thani said: “Qatargas is pleased to commemorate the signing of 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 LNG market.”
The LNG will be delivered to Pakistan in 2018 by Qatargas-chartered Q-Flex vessels. Qatargas’ shipping arm, Nakilat, is the largest owner and charterer of Q-Flex vessels in the world with 37 ships totalling 8.5 million cubic metres of capacity.
