Japans Kansai Electric Power Company (Kepco) has signed a new long-term Liquefied Natural Gas (LNG) sales and purchase agreement with Qatargas
The first long-term bilateral agreement between Qatar's gas operator and Kepco will see Qatargas 3 deliver 500,000 tpa of LNG to Kepco for a period of 15 years starting from 2013.
The agreement was signed in Doha by the minister of energy and industry and Qatargas chairman, Dr Mohamed bin Saleh al Sada, and Kepco executive director Yoichi Mukae.
“Qatar continues to contribute towards global energy security. Today’s agreement reinforces our strong relationship with one of Qatargas’ foundation customers and demonstrates our continued commitment to supply LNG to Japan for the long-term,” said al Sada.
Mukae added, “We expect this agreement to reinforce the partnership between Qatargas and Kansai Electric and to lead to our stable LNG procurement.”
Kepco, the second largest electricity company in Japan, is one of the original eight Japanese buyers that signed a multi-party contract with Qatargas 1 back in 1994.
The delivery of LNG to Japan and Kepco under the current contract started in 1997.
