UK: South Hook Gas Signs LNG Deal with Noble

South Hook Gas has signed a framework agreement with Noble Clean Fuels Limited, a wholly owned subsidiary of Noble Group, for access to spare LNG import capacity at the South Hook Terminal.

South Hook Gas already delivers gas to ExxonMobil Gas Marketing Europe and has regasification services agreements with Total Gas & Power, ConocoPhillips, EGL, Chevron and Trafigura.

Rashid Al-Marri, General Manager at South Hook Gas said, “We’ve said since starting operations that we wanted to help improve supply diversity and competition in the UK energy market. We’re now supplying more gas into the UK than any other LNG shipper and by signing new access agreements such as this one with Noble, we’re fulfilling our promises.”

“We are pleased to sign this agreement, allowing us to unload LNG volumes destined for the UK downstream gas market, where we are already managing physical gas flows with assets such as the Holford underground gas storage facility. This contract adds to Noble’s portfolio of flexible assets across the shipping, supply, regasfication and marketing elements of the LNG value chain in both the Atlantic and Pacific basins,” said Alejandro Sanchez Gestido, Global Head of LNG at Noble.

South Hook Gas has supplied gas every day into the UK market since commencing operations in 2010, helping to improve security of supply. In little more than two years, the company has grown rapidly and can supply around 20% of the UK’s gas needs.

Natural gas is a flexible and safe energy source that can provide reliable back-up to intermittent renewable energy supplies such as wind and solar. As one of the cleanest burning hydrocarbons, it can also help the UK to achieve its greenhouse gas emissions targets as it has lower emissions than both coal and oil.

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LNG World News Staff, October 9, 2012; Image: South Hook Gas