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Qatar seals Argentina LNG deal

04 July 2011

Qatargas, the largest LNG producer in the world, has sealed a 20-year supply deal with Argentina – its first long-term entry into the South American market. Under the agreement, Qatargas will deliver five million tonnes per annum (MTA) of LNG to Enarsa at the Southern Cone LNG Hub in Argentina beginning in 2014.

This LNG supply is expected to meet nearly 16 per cent of Argentina's total annual natural gas consumption.

“Argentina is one of the world's fastest growing LNG markets, which needs long-term supplies to meet its increasing demand for natural gas,” Mohammed bin Saleh Al-Sada, Qatar's energy minister and chairman of Qatargas said. “This is Qatargas' first long-term LNG agreement into the South American market.”

Qatargas will deliver the agreed LNG volumes to ENARSA's planned Southern Cone LNG Hub on board its fleet of Q-vessels to ensure the most economical transportation cost.

The Southern Cone LNG Hub is an offshore LNG Floating, Storage and Regasification Unit (FSRU) project which is being promoted by ENARSA for completion in 2014.