RasGas Signs LNG Sales and Purchase Agreement with EDF

Doha, June 29 (QNA) - RasGas Company Limited (RasGas) announced on Wednesday that Ras Laffan Liquefied Natural Gas Company Limited (3) (RL 3) has entered into a new liquefied natural gas sales and purchase agreement (SPA) with French energy company, EDF SA (EDF). The agreement was signed by RasGas Chief Executive Officer Hamad Mubarak Al Muhannadi and Marc Benayoun, EDF group senior executive, vice president of Gas and Italy and CEO of Edison. Under the terms of the SPA, RL 3 will deliver, starting in 2017 and over the medium term, up to 2 million tons per annum (Mtpa) of Qatari LNG into EDF's new terminal in Dunkerque, France. This new agreement complements three existing long term SPAs between RasGas ventures and EDF Group subsidiaries, for delivery of up to 4.6 Mtpa to Edison in Italy and up to 3.5 Mtpa to EDF Trading in Belgium. "This latest agreement is an excellent example of RasGas' continued commitment to develop and execute opportunities that respond to our customer's needs," Al Muhannadi said. "We are proud that, together with EDF, we have played a significant role in continuing to provide a safe and reliable supply of energy to the homes, businesses and communities of Europe." For his part, Benayoun said the agreement reflects EDF's growing interest in the LNG markets. "The Group is proud to add this significant contract to its global LNG portfolio and to reach a new important milestone in the excellent relationship with RasGas, who already delivers LNG cargoes to the Group under long term contracts in both Rovigo and Zeebrugge terminals. "At a time when Dunkerque LNG is due to receive its first commissioning cargo early July, this new contract demonstrates Dunkerque LNG's outstanding position in the North West European gas markets," he added. (QNA)