Economy

Qatar signs 20-year LNG deal with South Korea

Qatar to supply South Korea with 2 mtpa of LNG to South Korea

Ahmed Hatem   | 12.07.2021
Qatar signs 20-year LNG deal with South Korea

DOHA, Qatar

Qatar Petroleum (QP) on Monday signed a new 20-year agreement with the Korean Gas Corporation (KOGAS) to supply two million tons per annum (mtpa) of Liquefied Natural Gas (LNG) to South Korea, QP said in a statement.

“We are both proud and delighted to continue to serve as a major LNG supplier to KOGAS and the Republic of Korea,” Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, said.

“Today’s agreement is another step in the historic partnership journey between Qatar Petroleum and KOGAS, which we hope to take to new heights,” he added.

Qatar currently supplies South Korea with nine mtpa, making it the largest supplier of LNG to the East Asian country.

The latest deal comes almost 26 years since KOGAS signed its first-ever LNG deal with Qatar.

QP is a state-owned corporation in charge of all the Gulf country’s phases of the oil and gas industry.

*Writing by Ibrahim Mukhtar in Ankara

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