QP signs 25-year deal for LNG storage in UK

QP signs 25-year deal for LNG storage in UK

An affiliate of Qatar Petroleum and the UK's National Grid Grain LNG have signed a 25-year agreement to utilize an LNG receiving terminal in Kent from mid-2025, by subscribing up to 7.2 million tons per annum (MTPA) of the terminal's future throughput capacity.

The agreement marks the conclusion of Grain LNG's competitive "Open Season“ process, which started in November 2019, and is a significant milestone for the future of Europe's largest LNG import terminal.

The agreement was signed by Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, and Jon Butterworth, the Managing Director of National Grid Ventures.

Sherida Al-Kaabi said: "By entering into this agreement, we are reaffirming our commitment to the UK's gas market. We believe this agreement will facilitate a greater role