Qatargas exported its first cargo of liquefied natural gas (LNG) to China’s independent LNG buyer Jovo LNG Storage and Transportation Company (JOVO).Â
The 64,000 m3 cargo was loaded on to the vessel LNG Lerici at Ras Laffan port on 22nd October. The deal was made under the FOB Master Sale and Purchase Agreement signed by the parties earlier this summer.
The cargo will be delivered to JOVO’s LNG terminal located in Lisha Island, Dongguan in the Guangdong province.
This is the first deal of its kind by Qatargas with an independent and privately owned LNG importer in China. Previously, Qatargas only supplied LNG to Chinese state-owned national oil and gas companies.
The recent development in the Chinese market to promote cleaner fuels has been seen as a move to encourage and supported the growth of smaller LNG players like JOVO which takes up a niche place in the Guangdong’s market by providing its customers with LNG, LPG, methanol and DME.
Khalid Bin Khalifa Al-Thani, chief executive officer of Qatargas, said: “This is an important milestone for Qatargas. This achievement highlights Qatargas’ capability to supply LNG not only to major LNG players around the globe, but also demonstrates our ability to work successfully with small-scale buyers and cater to their specific needs.
“This delivery will undoubtedly encourage other potential independent players both in the People’s Republic of China and across the world to consider Qatargas as a reliable source of LNG no matter how big or small their operations”.
Zhang Jianguo, CEO of JOVO, stated: “After more than two years of hard negotiations and friendly communications, vigorous support from China’s National and Guangdong Provincial Energy Administration has created a new prospect for Chinese Private Enterprise to import LNG. The first LNG cargo from Qatargas is an achievement and it is also an important milestone for JOVO.
“I believe there will be better cooperation between JOVO and Qatargas.The success of this business deal gave a powerful impetus to the realization of JOVO’s enterprise mission to promote the low carbon economy and to share the prosperous future. JOVO sincerely hopes that through the future good cooperation with Qatargas, to provide better service to promote the development of China’s Clean Energy”.
Qatargas is the world’s largest LNG producing company with a production capacity of 42mn tonnes a year.
