TEPCO, Qatargas in LNG Deal

Tokyo Electric (TEPCO) of Japan said it has signed an LNG Sales and Purchase Agreement with Qatargas to buy approximately 1 million tons of LNG per annum on a long-term basis from August 2012.

“Given the increased thermal power generation following the earthquake disaster, TEPCO has communicated to Qatargas, the existing long-term contract seller, the need for an additional supply of LNG,” the company said in a statement.

The State of Qatar, which has the world’s largest LNG supply capacity, started supplying LNG from 1997 and TEPCO received the first LNG cargo in 1999 under the existing LNG Sales and Purchase Agreement with Qatargas.

Since then, TEPCO has been receiving a stable supply of LNG from Qatargas, approximately 200 thousand tons per annum, based on the Existing SPA

“The conclusion of the new LNG Sales and Purchase Agreement with Qatargas beyond the Existing SPA will contribute to TEPCO’s stable procurement of LNG and will further strengthen the relationship with the State of Qatar,” the company added.

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LNG World News Staff, June 11, 2012; Image: Qatargas