South Korea signs 20-year LNG deal with Qatar
7/12/2021
South Korea's energy ministry signed a 20-year LNG supply agreement with Qatar for the next 20 years starting in 2025.
South Korea's state-run Korea Gas Corp will buy 2 million tonnes of LNG annually from Qatar Petroleum .
"This long-term contract is considered to have favourable contract conditions, which would help stabilise LNG supply as well as to significantly drop fees," the ministry said in a statement.
It did not provide financial details of the agreement.
The energy ministry added that KOGAS buys 9 million tonnes of LNG annually from Qatar through long-term contracts and a contract worth 4.9 million tonnes of LNG is expected to end in 2024.
(Reporting by Sangmi Cha, Heekyong Yang; editing by Louise Heavens)
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