Qatargas and PetroChina Sign 22-Year Deal
Qatargas signed a long-term sale and purchase agreement (SPA) to supply PetroChina with around 3.4 mtpa of LNG.
Under the 22-year SPA, which ends in 2040, Qatargas will supply LNG from the Qatargas 2 project, a joint venture between Qatar Petroleum, ExxonMobil, and Total, to different receiving terminals across China, with the first cargo to be delivered to the People's Republic of China later this month.
The SPA allows flexibility in delivering LNG to various receiving terminals across China, including the Dalian, Jiangsu, Tangshan, and Shenzhen LNG receiving terminals, utilizing Qatargas' fleet of 70 conventional, Q-Flex, and Q-Max LNG vessels.
Qatargas is the world's largest LNG-producing company with an annual production capacity of 77 million tonnes. PetroChina is China's largest gas supplier, supplying 66% of China's domestic demand in 2017, according to Qatargas. It is anticipated that the People's Republic of China will become one of the world's largest gas markets. Chinese gas consumption grew by 15% in 2017 alone, with LNG imports growing by more than 40%.
Santos Acquires ConocoPhillips Australian Assets for $1.39 Billion
The deal for ConocoPhillips’s northern Australian portfolio will help the Australian company boost its position in the country’s gas market, as it gains majority ownership in a set of key assets including Darwin LNG and the Barossa project.
Total Expands Partnership With Adani on India’s Gas Market
The agreement—in which Total will reportedly pay $600 million for a 37.4% stake in the Indian gas conglomerate—boosts the supermajor’s LNG market access in India and neighboring countries. It is the latest move in Total’s aggressive expansion of its LNG portfolio.
FERC Delays Jordan Cove Environmental Review
The US Forest Service, which is working with FERC to prepare the review of the export terminal off the Oregon coast, said it only recently received critical information needed to complete amendments to its land and resource management plans. First gas is scheduled for 2025.
Don't miss out on the latest technology delivered to your email every two weeks. Sign up for the OGF newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.
03 October 2019
08 October 2019
02 October 2019
03 October 2019