Coming into effect from January 2019, the SPA provides for the supply of LNG from Qatargas 4, a joint venture between Qatar Petroleum (70%) and Shell (30%). The LNG will be delivered to either the Dragon LNG Terminal in the UK or the Gate LNG Terminal in the Netherlands.
Saad Sherida Al Kaabi, president and CEO of Qatar Petroleum and Qatargas chairman, said: “We are pleased with the conclusion of this agreement, which further strengthens our relationship with Shell – one of the largest energy traders in the world. Qatargas continues to win new business in an evolving market and this SPA demonstrates Qatargas’ ability and flexibility to capture new opportunities.”
Qatargas CEO Sheikh Khalid bin Khalifa Al Thani said: “This deal provides Qatargas with access to Shell’s gas sales portfolio in the UK and continental Europe, as well as the flexibility to manage LNG deliveries to our global client portfolio.”
Maarten Wetselaar, director of integrated gas at Shell, said: “Agreements like this support our ability to provide reliable, flexible LNG supply to our customers. We believe natural gas has a vital role to play in providing secure and cleaner energy for decades to come.”