Qatargas Inks 3-Year LNG Supply Deal with BOTAŞ
- Business & Finance
Doha-based liquefied natural gas (LNG) company Qatargas has signed a medium-term sales and purchase agreement with Turkish BOTAŞ Petroleum Pipeline Corporation (BOTAŞ).
Under the terms of the agreement, Qatargas will deliver 1.5 million tons of LNG per annum for a period of three years.
Scheduled to commence on October 1, 2017, this agreement provides for the supply of LNG from Qatar Liquefied Gas Company Limited (2) (Qatargas 2), the world’s first fully integrated value chain LNG venture.
The LNG will be delivered onboard Q-Flex vessels to either the Egegaz LNG Terminal, the Marmara LNG Terminal, or to the Etki LNG terminal in the Republic of Turkey, according to Qatargas.
“We are very pleased to announce this new agreement with BOTAŞ… As the LNG market continues to evolve, Qatar’s ability to capture new opportunities is once again evident in this latest deal,” Saad Sherida Al-Kaabi, President and Chief Executive Officer of Qatar Petroleum, and Chairman of the Qatargas Board of Directors, said.
Commenting on the new agreement, Khalid Bin Khalifa Al-Thani, Chief Executive Officer, Qatargas, said: “Qatargas is delighted to announce this multi-year deal with BOTAŞ… Our relationship with BOTAŞ has evolved from supplying spot cargoes to the current medium-term deal, and we look forward to providing BOTAŞ with reliable, clean energy for many years to come.”