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RWE confirms delivery of first LNG from Qatargas under mid-term deal
June 2, 2017 / 1:07 PM / 6 months ago

RWE confirms delivery of first LNG from Qatargas under mid-term deal

FRANKFURT, June 2 (Reuters) - German utility RWE said it had received its first cargo of liquefied natural gas (LNG) from Qatargas late last month under a seven and a half year deal signed in 2016.

The 95,000 tonne shipment was made on the Q-Flex LNG tanker Al Karaana and delivered to the GATE terminal in Rotterdam, RWE said on Friday.

Financial details were not disclosed and the gap between the arrival of the cargo and publication of the news was as a result of RWE’s internal procedures, a spokeswoman said.

LNG traders watch arrivals to gauge supply flows in a market full of new origins entering export markets, while utility analysts track the global sourcing strategy of the utility group’s central trading floor, RWE Supply & Trading (RWEST), which issued the statement.

“This contract with Qatargas is a key element in our supply portfolio and underpins our growth strategy in LNG,” Andree Stracke, Chief Commercial Officer Origination & Gas Supply at RWEST, said.

Under the contract signed last July, Qatargas will deliver up to 1.1 million tonnes of LNG per annum to RWEST, which has a long-term contract to use GATE. (Reporting by Vera Eckert; editing by Alexander Smith)

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