Qatargas has signed a long-term LNG Sales and Purchase Agreement (SPA) between Qatar Liquefied Gas Company Limited 3 (Qatargas 3) and PTT Public Company Ltd. of Thailand.
Under the terms of the agreement, Qatargas 3 will deliver two million tonnes per annum (MTA) of LNG for a period of 20 years beginning from 2015. The agreement marks PTT’s first long-term LNG SPA.
The agreement was signed by His Excellency Dr. Mohammed Bin Saleh Al-Sada, Minister of Energy and Industry and chairman of the board of Qatargas and Mr. Pailin Chuchottaworn, chief executive officer and president of PTT.
“This agreement underpins Qatar’s proven capability to meet the LNG requirement of the customers around the globe safely and reliably,” said H.E. Dr. Al-Sada.
“This is a momentous occasion for us as this is the first long-term agreement for Qatargas in South-East Asia and our first term contract with PTT,” says Khalid Bin Khalifa Al-Thani, chief executive officer of Qatargas. ”Qatari LNG continues to play a key role in helping countries around the world improve the diversity of their energy supplies. We are very happy that our discussions with PTT regarding a long term agreement have come to fruition. We look forward to a strong and enduring partnership with PTT,” he said.
In 2011, Qatargas delivered the first commissioning cargo to Map Ta Phut LNG Receiving Terminal, Thailand’s first and only LNG receiving terminal. Since then, Qatargas has sold several spot cargoes to PTT.“Qatargas and PTT have consistently maintained cordial relations. In our initial preparation for LNG imports, Qatargas supported us and delivered LNG commissioning cargoes. In particular, its LNG delivery proved helpful last year when one of our transmission pipelines faced problems,” said Chuchottaworn.
“Today, PTT is delighted to have concluded this long-term LNG agreement, the first for Thailand with Qatargas. Thanks to the support of both countries, the success today marks a milestone for continued cordial partnership between the two entities, together with LNG and natural gas cooperation in future years,” he said.
The current capacity of Map Ta Phut LNG Receiving Terminal is five MTA and PTT has plans to increase this capacity to ten MTA. The terminal is currently compatible with Q-Flex vessels with plans to receive Q-max vessels in the future.
