Qatar’s Rasgas company signed a deal with a Taiwanese firm yesterday to deliver 1.8 million tones of liquefied natural gas (LNG) annually for 25 years starting in 2003, a company official said.
The deal was signed in Doha by Finance Minister and Rasgas Chairman Youssef Hussein Kamal, and Lee Tuan-Yu, President of Tung Ting Gas Co., the official said.
Rasgas, which started production in May, signed its first export deal in May to deliver 135,230 cubic meters of LNG to South Korea’s Korea Gas Corporation in 19,000 shipments over 25 years. This deal is Rasgas’s first with a Taiwanese firm.
Rasgas, Qatar’s second LNG venture, is jointly owned by state-controlled Qatar General Petroleum Corporation (Qatargas) which holds 63 per cent and Mobil with 25 per cent, while the rest is in the hands of Korean and Japanese companies.
On October 10, Energy Minister, Abdullah bin Hamad Al Attiya, said Rasgas was studying quadrupling production capacity to 20 million tones a year between 2004 and 2007 to meet demand in Europe and Asia.
Rasgas announced in April that its second LNG train had gone into production doubling capacity to five million tones a year.
Qatargas started exports to Japan in 1997 amounting to almost all its production of six million tones of LNG per year.
The tiny state is home to just 522,000 people, four-fifths of whom are expatriates, and sits on top of the world’s third largest gas reserves after Russia and Iran. Qatar’s huge offshore North Field contains proven non-associated reserves of more than 10 trillion cubic metres. – AFP.
©--Agence France Presse.