Qatar Petroleum (QP) and Korea Gas (KOGAS) have inked a new 20-year agreement on the supply of 2,000,000 tonnes of liquefied natural gas a year to South Korea, the Qatari company said in a statement.
Report informs, citing Prime, that under the agreement, LNG supplies to KOGAS terminals in South Korea will start in January 2025.
Qatar currently supplies over 9,000,000 tonnes of LNG to South Korea’s KOGAS under long-term contracts and is the biggest supplier of these energy sources to the country. KOGAS buys LNG in Qatar for already 26 years, and since 1999 Qatar Petroleum has supplied South Korea with almost 185,000,000 tonnes of LNG onboard more than 2,500 tankers.
Qatar Petroleum controls Qatar’s oil sector components, including exploration, production, processing, transportation, and storage; invests in LNG and renewable energy sources, such as solar energy. Qatar is a leading producer of LNG in the world.