GlobalData’s latest report, 'Q2 2017 Long-Term LNG Contracts Review – Qatar Signs Contract with the UK amid Gulf Boycott' indicates that the biggest new long-term Liquefied Natural Gas (LNG) contract in the second quarter of 2017 was signed between Qatargas Operating Company Limited and Royal Dutch Shell Plc on June 18. According to the contract, Qatargas Operating Company Limited is expected to supply 1.1 million tonnes per annum (mtpa) of LNG from the Qatargas IV terminal in Qatar to the Dragon Gate Terminal in the UK. The contract is for a period of five years, from 2019 to 2024.
The second-biggest contract in the quarter was signed by ExxonMobil for supply of 1 mtpa of LNG to PT Pertamina in April 2017. The LNG will be supplied for a period of 20 years, from 2025 to 2045. The LNG will be supplied to Indonesia, from an exporting country whose identity is presently unknown.
Eni Spa and Pakistan LNG Terminals Limited signed the third-biggest contract for supply of 0.7 mtpa of LNG from the Badak terminal in Indonesia to the Port Qasim Floating II terminal in Pakistan. The contract was signed in May 2017. As per the contract, LNG will be supplied from 2017 to 2032 for a period of 15 years.
Regional Contract Briefs – Asia
One long-term LNG contract was signed in Asia in the second quarter of 2017. According to the contract, Eni Spa is expected to supply 0.7 mtpa of LNG from Badak in Indonesia to Port Qasim Floating II in Pakistan. The contract period is for 15 years, starting 2017.
In the second quarter of 2017, a contract was signed in the Middle East between Royal Dutch Shell Plc and Qatargas Operating Company Limited. According to the contract, 1.1 mtpa of LNG will be supplied from the Qatargas IV terminal in Qatar to the Dragon Gate terminal in the UK. This contract period is from 2019 to 2024.
Image: LNG Contracted Capacity by Key Importing Countries in Second Quarter vis-à-vis Third Quarter of 2017 (mtpa). Courtesy: Midstream Analytics