Qatargas Sells Seven Additional LNG Cargoes to United States

abarrelfullabarrelfull wrote on 11 Dec 2014 08:09

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10 October,1999

Qatar Liquefied Gas Company (Qatargas) announced today that it has signed an agreement to sell additional seven LNG cargoes to CMS Energy Corporation in the US for deliveries in the year 2000.

The first of these seven LNG cargoes is scheduled to be loading at the delivery point of CMS’ receiving complex in Lake Charles, Louisiana in January with the remaining cargoes to be loaded at 55 days intervals throughout the year 2000. The terms of the agreement are confidential.

”Qatargas is very pleased to have concluded this additional purchase agreement with CMS Energy Corporation’s affiliate, CMS Marketing, Services and Trading in the US,” says Qatargas Vice Chairman and Managing Director, Faisal M. Al-Suwaidi. “We sold our first LNG cargo to CMS earlier this year, and with these seven additional cargoes, we’re meeting the goal of increasing our exports. It also demonstrates the excellent relationships we’re enjoying and strengthening with our traditional and new buyers.”

Qatargas, the LNG pioneer in Qatar, was established in 1984 to exploit gas from the giant North Field in the company-operated, first LNG plant in Qatar in Ras Laffan Industrial City. The Qatargas LNG plant is a joint venture with Qatar General Petroleum Corporation (QGPC) as the largest shareholder (65%), TotalFina (10%), Mobil Corporation (10%), Mitsui & Co. Ltd. (7.5%) and Marubeni Corporation (7.5%). The initial Qatargas LNG shipment went to Japan in 1997 and by end of this year, nine state-of-the-art LNG carriers will have delivered a cumulative total of 200 cargoes mostly to Japan. This milestone symbolizes the enormous success of Qatargas as a dependable world-class supplier of LNG.

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