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Publish Date : 16-Oct-2012

Qatargas has inked a new 15-year LNG agreement with Chubu Electric of Japan.

As per this new agreement, Qatargas will provide 15 million tonnes of liquefied natural gas (LNG) to Chubu Electric Power Company, from 2013.

The new agreement is result of recently signed long-term sale and purchase agreement (SPA) between Qatargas and Chubu Electric. The new deal is besides a number of existing deals between Chubu Electric and Qatargas. Chubu Electric was the first company in Japan to ink an SPA with Qatargas in 1992 as well as one of the eight Japanese power and utility companies which inked a multi-party deal with Qatargas in 1994. In December 2011, Qatargas inked a tripartite deal to provide LNG to Chubu Electric Power Company and Shizuoka Gas Company.

Qatargas said, “Japan is the largest LNG importer in the world and this deal expands the continued partnership between Qatar and Japan and reinforces Qatar’s role as a secure and reliable supplier of LNG to Japan.”

“Consistent with the vision of HH the Emir, Sheikh Hamad bin Khalifa al-Thani, this agreement is further testimony to Qatar’s leading role in helping ensure the energy security of countries around the world. Chubu Electric has a unique place in Qatar’s LNG success story. Liquefied natural gas deliveries from Qatar to Japan started with the first cargo to Chubu Electric in 1997. This new agreement underlines our ongoing commitment to supply LNG to Japan well into the future,” said HE the Minister of Energy and Industry, Dr Mohamed bin Saleh al-Sada.

“This agreement opens a new chapter in our strong partnership with Chubu Electric, which started over two decades ago when we signed our first SPA in 1992. Chubu Electric is our foundation customer and we greatly value our relationship with them. Qatargas remains committed to supporting Japan’s growing demand for LNG for the long term,” said Khalid bin Khalifa al-Thani, CEO of Qatargas.

“It is our pleasure to execute this new SPA in this memorable year, which marks the 40th anniversary of diplomatic relations between Qatar and Japan and also the 20th anniversary of execution of the first SPA between the world’s largest and most reliable LNG supplier, Qatargas, and Chubu Electric. We believe that the execution of this SPA has further strengthened the relationship between Qatargas and Chubu Electric,” said Yuji Kakimi, managing executive officer of Chubu Electric.

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