Qatargas and BP sign deal to provide LNG to Spain
Qatar Liquefied Gas Company (Qatargas) and British Petroleum (BP) have signed a supply and purchase agreement (SPA) for the delivery of 750,000 tons of liquified natural gas (LNG) per year over a three year period to the Spanish market.
The first LNG cargo is scheduled for delivery in the third quarter of 2003. The agreement calls for about 12 deliveries of LNG per year over the contract period, and BP will dedicate one LNG vessel, British Merchant, for their transport.
Qatargas pioneered the LNG business in Qatar when it signed two SPA's with eight Japanese customers in 1992 and 1994 respectively, for the delivery of six million tons per year over a 25-year period. The first LNG to the major Japanese buyer, Chubu Electric, was loaded in 1996. Since then Qatargas has delivered more than 500 cargoes of LNG to Japan and a number of other country markets. — (menareport.com)
© 2002 Mena Report (www.menareport.com)