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MENAFN - The Peninsula - 23/09/2012

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(MENAFN - The Peninsula) Qatargas, on September 19, delivered the first cargo of liquefied natural gas (LNG) to China National Oil Corporation's (CNOOC) Zhejiang LNG Terminal. The cargo delivered by Qatargas Q-Max LNG vessel Zarga will be used to commission the newly constructed LNG terminal. The arrival also marks the first Q-Max LNG Vessel, the largest class of LNG carriers in the world, to one of CNOOC's owned and operated terminals in the People's Republic of China.

To mark the occasion, CNOOC Gas and Power Group, senior officials from Qatargas and Zhejiang LNG Terminal shareholders witnessed the arrival of the commissioning cargo at Ningbo, Zhejiang Province.

Qatargas Chief Executive Officer Khalid bin Khalifa Al Thani said: "This is an important milestone for Qatargas. We are very pleased LNG from Qatar continues to contribute towards meeting the growing demand for energy in the People's Republic of China. This achievement highlights Qatargas' capability to supply LNG to customers around the globe safely and reliably. This delivery will further strengthen the relationship between both companies over the long-term."

He said: "Under the guidance of H E Dr Mohammed bin Saleh Al Sada, the Minister of Energy and Industry and Chairman of the Board of Directors at Qatargas, Qatari LNG has a key role to play in contributing to countries around the world in improving their diversity of energy supplies. The commissioning of CNOOC's Zhejiang LNG terminal will meet the growing demand for energy in the People's Republic of China and we at Qatargas are very proud to have played a contributing role."

Qatargas and CNOOC have an existing sales and purchase agreement signed in 2008 for the supply of a total of 2 million tonnes per annum (MTA) of LNG. The first delivery of LNG from Qatar to China with CNOOC was made in October 2009.

Qatargas is the world's largest LNG producing company with a production capacity of 42 MTA. Qatar, as the world's leading LNG producer, anticipates that the People's Republic of China will become one of the world's largest gas markets.

The Zhejiang LNG terminal, located in Ningbo in China's Zhejiang province, will have a first phase receiving capacity of 3 MTA adding to CNOOC's operating LNG terminals in Shanghai, Fujian and Guangdong provinces thus maintaining its position as China's largest LNG importer.

 






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