E.ON, RasGas Sign Contract for LNG Supply

A three-year contract with the potential to supply up to around two billion cubic meters of gas over its term has been signed by E.ON and RasGas. With this medium-term flexible contract, RasGas will supply LNG from Qatar to the Isle of Grain in the UK.

Christopher Delbrück, CEO of E.ON Global Commodities SE, said: “I’m delighted that we have been able to conclude this agreement with RasGas, one of the world’s leading LNG players. The contract is a significant step in the development of our global growth strategy and is another big step in the development of our long-term partnership with the State of Qatar. In a rapidly changing LNG marketplace, we are very pleased to have been able to reach an agreement that supports the ambitions of both our companies. Further, the deal enables us to take advantage of our existing UK regas position.”

E.ON regards Qatar as a priority country in the expansion of the company’s LNG business model, including short and long-term supply agreements.

Qatar possesses the world’s third-largest gas reserves and has, by developing an impressive infrastructure for exporting LNG, established itself as a leader on the global LNG market.

Press Release, May 28, 2014