Qatargas Signs an Agreement to Supply LNG to ENARSA

Source: 6/29/2011, Location: Middle East

Qatargas, the largest LNG producer in the world, has achieved a new historical milestone, as it announces the signing of a Heads of Agreement (HOA) for the long term supply of liquefied natural gas (LNG) to Energia Argentina Sociedad Anonima (ENARSA), an Argentinean oil and gas company.

Under the terms of the HOA, Qatargas will deliver five million tonnes per annum (MTA) of LNG to ENARSA at the Southern Cone LNG Hub in Argentina for twenty years beginning in 2014. This LNG supply is expected to meet nearly 16 % of Argentina’s total annual natural gas consumption.

The HOA was signed by Khalid Bin Khalifa Al Thani, Chief Executive Officer, Qatargas, and ENARSA’s General Attorney & New Business Manager, Mr. Gabriel Mazzola.

The HOA follows the Framework Agreement signed between Argentina and Qatar during President Cristina Fernandez de Kirchner’s State Visit to Qatar in January 2011. With the guidance and direction of the State of Qatar in recognizing the importance of long term LNG supplies to Argentina, the State of Qatar nominated Qatargas to become Argentina’s first ever long term LNG supplier.

His Excellency Dr. Mohammed Bin Saleh Al Sada, Minister of Energy and Industry for the State of Qatar and Chairman of Qatargas states that: “I am delighted that Qatargas has again, through this long term agreement, significantly contributed to the global reach of Qatari LNG. Argentina is one of the world’s fastest growing LNG markets, which needs long-term supplies to meet its increasing demand for natural gas and we here in Qatar are very proud to partner with Argentina and to be able to support their energy needs, for many years to come.”

This deal represents an historical milestone for Qatargas, Khalid Bin Khalifa Al Thani, Chief Executive Officer, Qatargas, said: “This is Qatargas’ first long-term LNG agreement into the South American market. Of course I am very pleased with the achievement that has been made and we look forward to a strong and long term relationship with ENARSA. This milestone further demonstrates Qatargas’ commitment as a reliable LNG supplier to the world.”

The president of ENARSA (Energ?a Argentina S.A.), Exequiel Espinosa, congratulates the progress of the Energy Framework Agreement signed between the governments of Argentina and Qatar. The Agreement was signed by the Minister of Planning and Public Works, Julio De Vido, during the visit of the Argentine President Cristina Kirchner to Qatar.

Mr. Espinosa says: “Today is a very special day; the Head of Agreement signed between Qatargas and ENARSA boosts and complements the interests of both companies. In the case of Argentina, this agreement represents a supply of 5 million tons of LNG per year. In the case of Qatar, it represents the possibility for that country to operate in the largest natural gas market of Latin America.”

Qatargas will deliver the agreed LNG volumes to ENARSA’s planned Southern Cone LNG Hub onboard its fleet of Q-vessels to ensure the most economical transportation cost.

The Southern Cone LNG Hub is an offshore LNG Floating, Storage and Regasification Unit (FSRU) project, which is being promoted by ENARSA for completion in 2014.

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