RWE Supply & Trading (RWEST) and Qatargas, the World’s Premier LNG Company, announced a flexible Sale and Purchase Agreement (SPA).

Qatargas will deliver up to 1.1 million tonnes of Liquefied Natural Gas (LNG) per annum to RWEST in North West Europe for seven and a half years.

On signing the deal, RWEST’s Chief Executive Officer, Markus Krebber stated that “RWE is a leading global energy company and among the leading energy traders and gas supply companies in Europe. Our company has a strong commitment in building significant partnerships with major global energy companies and with the Middle East being one of our key regions for development, the partnership with Qatargas is of particular significance for us.”

Andree Stracke, Chief Commercial Officer at RWEST added “We are pleased to welcome Qatargas as an important new partner for RWE and this agreement enhances the diversity of RWE’s European gas portfolio. This agreement is the result of several years of close co-operation between Qatargas and RWEST which has culminated in a contract which provides flexibility for both companies.”

Saad Sherida Al-Kaabi, Qatar Petroleum President and Chief Executive Officer and Chairman of Qatargas Board of Directors, said: “Qatargas is committed to providing reliable, clean energy to consumers all over the world. This new milestone underscores our commitment to building new partnerships with leading global companies. We hope Qatargas LNG will contribute to enhance Europe’s energy supplies and energy security.”

Commenting on the newly signed deal, Khalid Bin Khalifa Al-Thani, Chief Executive Officer, Qatargas, added: “Qatargas is delighted to announce a seven and a half year deal with RWEST, a global utility leader. I am particularly pleased to welcome another European partner to our expanding client portfolio, thereby reinforcing Qatargas’ position as the leading supplier of safe and reliable LNG to Europe, and indeed the whole world.”

The LNG will be supplied from Qatargas 3, a joint venture between Qatar Petroleum, ConocoPhillips and Mitsui & Co. Ltd. Qatargas chartered Q-Flex LNG vessels will deliver the LNG to RWEST in North West Europe.

About RWE

With its operating business fields of Conventional Power Generation and Energy Trading, RWE AG is indispensable to the proper functioning of the energy system and for security of supply in Europe. Our third pillar is our majority shareholding in RWE International SE (innogy).

RWE Generation is currently one of the leading power generation companies in Europe and is a top performer and centre of competence for conventional power generation within the RWE Group. The company currently has a power generation capacity of over 40,000 Megawatt and a workforce of around 14,000 people at 79 locations. In Germany alone, its power plants currently provide one third of supply. RWE Generation is working to ensure that power is generated in an even more environmentally friendly way in the future, that it continues to be reliably available and remains affordable. The company is proud to work on this important future task. We feel strongly committed to the people in the regions in which we are active.

RWE Supply & Trading is a leading European energy trading house and an active player on the global wholesale markets for energy and energy-related raw materials in both their physical and/or derivative forms. This includes power, gas, coal, freight, oil, weather derivatives, biomass, emissions certificates and renewable energies. We are responsible for the economic optimisation of power generation and the entire non-regulated gas business of RWE. Large industrial companies and trading partners are offered long-term delivery concepts by RWE Supply & Trading next to trading-based portfolio and risk management solutions.

About Qatargas

Qatargas is the world’s largest LNG producing company with a production capacity of 42 MTA. The State of Qatar, as the world’s leading LNG producer, anticipates that the People’s Republic of China will become one of the world’s largest gas markets.