ACWA and PTT sign MoU
State-owned petroleum company, QatarEnergy has announced the signing of two long-term LNG sale and purchase agreements (SPAs) with hydrocarbon corporation, ConocoPhillips. This SPA regards the delivery of up to 2 million tons per annum (MTPA) (1.8 million tonnes) of LNG from Qatar to Germany.
The LNG volumes will be sourced from the two joint ventures between QatarEnergy and ConocoPhillips that hold interests in Qatar’s North Field East (NFE) and North Field South (NFS) projects.
Saad Sherida Al-Kaabi, the minister of state for energy affairs and CEO of QatarEnergy says: ‘We are pleased to sign these agreements with our partner ConocoPhillips to supply up to 2 million tons per annum of LNG to Germany from the two QatarEnergy-ConocoPhillips joint ventures in the NFE and NFS LNG expansion projects respectively, starting in 2026.’
Ryan Lance, CEO of ConocoPhillips adds: ‘QatarEnergy and ConocoPhillips are excited for the opportunity to responsibly and securely supply world markets with LNG from the Qatari expansion projects. These agreements will provide an attractive LNG offtake solution for our new joint ventures with QatarEnergy and position the joint ventures as reliable sources of LNG supply into Europe.’