Qatar and Malaysia sign 20-year LNG deal

Qatargas will supply Malaysian-based Petronas LNG Ltd with liquefied natural gas (LNG) for at least 20 years from 2013, under a new agreement.

The deal will see Malaysia supplied with 1.5 million tonnes of LNG each year – the equivalent of five per cent of Malaysia’s current annual domestic natural gas demand.

Qatargas CEO Khalid Bin Khalifa Al Thani said that the deal represented the first time that the company has signed a ‘heads of agreement’ for supplying LNG to the South East Asian market.

Qatar is currently the world’s biggest LNG exporter, with the capability to produce up to 77 million tonnes of LNG each year.

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