European customers will have total access to reliable LNG supplies from Qatar with QP booking ‘full LNG regasification capacity’ of Belgium’s Zeebrugge terminal for the next 25 years.
Qatar Petroleum and its affiliates and the Belgian independent natural gas transport company Fluxys Belgium recently signed a long-term agreement for “LNG unloading services” at the Zeebrugge LNG Terminal.
Under the agreement, Qatar Terminal Limited (QTL), a subsidiary of Qatar Petroleum, will subscribe to the full capacity at the terminal from the expiry of the existing long-term unloading contracts and up to 2044.
The Zeebrugge LNG Terminal in Belgium was commissioned in 1987. It has since developed, together with the Zeebrugge area as a whole, into a central crossroads for North West Europe’s gas network.
Qatar is the only gas producing country with long-term contracts for imports of LNG into North West Europe.
Located at the point where a number of gas pipelines meet, the terminal plays a key role in Europe’s natural gas supplies. The terminal is operated by Fluxys LNG, part of Belgian independent natural gas transport company Fluxys.
For Qatar, Europe is a key market for its liquefied natural gas (LNG), which was highlighted by HE the Minister of State for Energy Affairs Saad bin Sherida al-Kaabi, also the President & CEO of Qatar Petroleum, at the signing ceremony in Brussels.
Al-Kaabi said, “We are delighted to sign this landmark agreement today to extend and expand our existing long-term partnership with Fluxys Belgium for decades to come. We believe this arrangement will further support our customers in Belgium and Europe in general, by providing access to reliable LNG supplies from Qatar and allowing our customers to maximise the utilisation of such supplies.”
“Qatar Petroleum has long invested in and anchored LNG receiving terminal capacity in Europe, a key gas market, as part of our supply destination portfolio diversification strategy. We continue to be committed to supporting the EU’s energy policies and providing reliable energy supplies into Europe,” al-Kaabi added.
Global LNG leader Qatar is already ramping up its liquefied natural gas production by launching the North Field Expansion project, which includes setting up four mega LNG trains that would expand the country’s LNG production from 77mn tonnes per year to 110mn tonnes by 2024.
World’s premier LNG company Qatargas has been entrusted with executing this mega project on behalf of QP.
The new production from the North Field, which is the largest non-associated natural gas field in the world, is expected within five to seven years.
Qatar’s plan is to develop an export-oriented gas project in the North Field, which is the country’s biggest gas repository.
Qatar’s decision to increase LNG output by 2024 will increasingly drive the country’s next development phase.
It will have substantial multiplier effects on the wider economy, lifting demand for goods and services and driving the country’s development in line with the Qatar National Vision 2030.
Alongside the gas expansion, Qatar is also committed to continuing with its economic diversification goals.
The country’s non-oil growth would be boosted by the ongoing localisation drive, including the QP-led Tawteen initiative.
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