Qatar Petroleum and Korea Gas Corporation (KOGAS) entered into an agreement for the supply of 2 million tons per annum of LNG to the Republic of Korea.

During a special ceremony held at Qatar Petroleum's headquarters today, H E Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and President and CEO of Qatar Petroleum, and Hee-Bong Chae, the President and CEO of KOGAS, signed the agreement.

Senior executives from KOGAS, Qatar Petroleum, and Qatargas attended the ceremony.

LNG deliveries will begin in January 2025, according to the SPA, and will be transported to KOGAS LNG receiving terminals in the Republic of Korea.

“We are both happy and delighted to continue to serve as a key LNG supplier to KOGAS and the Republic of Korea,” Al Kaabi said at the ceremony. Today's agreement is another step in Qatar Petroleum and KOGAS's historic collaboration, which we aspire to take to new heights.”

The signing of today's agreement comes roughly 26 years after KOGAS signed its first LNG SPA with Qatar.

Qatar presently supplies more than 9 MTPA of LNG to KOGAS under long-term agreements, making it the Republic of Korea's largest LNG supplier and demonstrating Qatar's strong commitment to satisfying the clean energy needs of clients all over the world who rely on reliable LNG deliveries.

Qatar Petroleum's LNG operations have delivered over 2,500 LNG cargoes to the Republic of Korea, totaling about 185 million tons, since 1999.

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Cover Image Credit & Source: The Peninsula