Minister of Energy and Industry reiterates commitment to Japan at Qatargas annual reception in Tokyo
- Qatar: Wednesday, October 17 - 2012 at 16:39
- PRESS RELEASE
His Excellency Dr. Mohammed Bin Saleh Al-Sada, Minister of Energy and Industry, Chairman & Managing Director, Qatar Petroleum, Chairman of Qatargas, addressed an elite audience of dignitaries and senior executives at the annual Qatargas reception held on October 15 in Tokyo.
Highlighting the strong and lasting partnership between Qatar and Japan in the LNG trade, Dr. Al-Sada said, "We in Qatar are very proud of the very reliable LNG exports to Japan over the past fifteen years which has allowed us to effectively participate in the security of energy supply to our valued Japanese customers. The LNG trade remains the backbone of our relations with Japan in the energy sector, not only in terms of value but also in terms of significance since Japan was the founding importer of LNG from Qatar which is by far the largest exporter of the product in the world today."
"I'm glad to state that we have successfully delivered more than 1600 cargoes to our Japanese customers. Today our excellent relationship is a testament to our commitment where we continue to demonstrate flexibility and reliability to deliver LNG to wherever it is needed," he said.
Dr. Al-Sada concluded his speech thanking Qatargas' Japanese partners, shareholders, financial institutions, contractors and service providers for contributing to Qatargas' success, and reaffirmed Qatargas' continued commitment to place the highest priority on maintaining safe and reliable supply of LNG to Japan.
Commenting on Qatargas' relations with its Japanese customers, Khalid Bin Khalifa Al-Thani, Qatargas Chief Executive Officer said, "Japan, its people and our customers are very important to us and Qatargas is doing all we can to support Japan's requirement for stable supplies of energy, especially in the aftermath of the earthquake and resulting tsunami which struck Japan in March 2011. We have committed to deliver an additional 20 million tonnes (MTA) of LNG to Japan over a period of several years to support Japan's increased energy requirements."
The Qatargas Annual Reception is held each year to meet Qatargas' Japanese customers and partners and acknowledge their support and cooperation. Japan is Qatargas' foundation customer and Qatar's LNG exports began with the first delivery to Chubu Electric from Qatargas in early 1997. Since then, Qatargas has delivered over 1600 LNG cargoes to Japan. Qatargas signed its first Sales and Purchase Agreement (SPA) with Chubu Electric in 1992. This was followed by another SPA with Chubu Electric and seven other Japanese companies in 1994.
In December 2011, Qatargas signed a tripartite agreement with Chubu Electric and Shizuoka Gas. In June and September, Qatargas signed SPAs with Tokyo Electric Power Company (TEPCO) and Kansai Electric Power Company (KEPCO) respectively, both of which are part of the multi-party agreement signed in 1994. Most recently, Qatargas signed a new SPA with Chubu Electric. These agreements reaffirm the continued partnership between the State of Qatar and Japan since the establishment of diplomatic relations 40 years ago.
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