12-07-2021
Qatar Petroleum today signed a new sale and purchase agreement with the Korean Gas Corporation (Kogas) to supply two million tons annually of liquefied natural gas to the Republic of Korea for a period of twenty years.
The agreement was signed today by His Excellency Eng. Saad Sherida Al Kaabi, Minister of State for Energy Affairs, President and CEO of Qatar Petroleum, and He-bong Chee, President and CEO of Kogas, during a ceremony held on this occasion at Qatar Petroleum's headquarters. The signing ceremony was attended by senior officials from Kogas, Qatar Petroleum and Qatargas.
LNG supplies under the agreement will start in January 2025, and will be delivered to Kogas LNG receiving terminals in the Republic of Korea.
On this occasion, His Excellency Minister Al-Kaabi said: "We are proud and happy to continue as a major LNG supplier to Kogas and the Republic of Korea. Today's agreement is another step in our strong and historic partnership with Kogas, which we hope will take it to wider horizons."
Today's signing of the agreement comes nearly 26 years after the signing of Qatar's first long-term sale and purchase agreement for LNG. Qatar is currently supplying Kogas with more than nine million tons per year through long-term agreements, making it the largest supplier of LNG to the Republic of Korea, and demonstrating its strong commitment to meeting the clean energy needs of customers around the world.
Minister Al Kaabi concluded his comment by saying: “We are grateful to Kogas for being a great partner and customer, and we welcome this opportunity to strengthen our business relations with Kogas, and to support the Republic of Korea’s national drive towards cleaner and more sustainable energy. I would like to thank the staff of Kogas and Qatar Petroleum and Qatargas for their great efforts in completing this agreement. I would also like to express my appreciation to Sheikh Khalid bin Khalifa Al Thani, CEO of Qatargas, the leadership team and the entire Qatargas staff for their great and continued efforts to ensure that Qatar remains the most reliable supplier of LNG in the world.”
Since 1999, Qatar Petroleum's various LNG companies have delivered more than 2,500 LNG cargoes to the Republic of Korea totaling over 185 million tons.