QP signs 25-year deal for LNG storage in UK

SourceTrade Arabia
SectorOil & Gas

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 ...read more...