Qatargas signs a 7.5-year deal for gas deliveries to Europe

Qatargas signs 7.5 year deal for gas deliveries to Europe

RWE, a German electric utilities company, has signed a seven and a half year deal with Qatargas for liquefied natural gas (LNG) deliveries into Europe, the German utilities company said on Saturday.

Under the deal, financial details of which were not given, Qatargas will deliver up to 1.1 million tonnes of LNG a year to RWE Supply & Trading (RWEST).

“This agreement enhances the diversity of RWE’s European gas portfolio,” Andree Stracke, Chief Commercial Officer at RWEST, said in a statement.

RWE is a German electric utilities company that supplies electricity and gas to more than 20 million electricity customers and 10 million gas customers, principally in Europe.

Qatargas is the world’s largest liquefied natural gas (LNG) company. It annually produces and supplies the globe with 42 million metric tons of LNG from across its four ventures (Qatargas 1, Qatargas 2, Qatargas 3, and Qatargas 4).

Natural gas is supplied to Qatargas’s LNG trains from Qatar’s massive North Field, by far the world’s largest non-associated gas field. Together with RasGas, it reached a record LNG production of 77 million tons per annum in December 2010.