Qatar signs long term LNG deal with Argentina

07 Jul 2011

(MENAFN) Qatargas CEO Sheikh Khalid bin Khalifa Al Thani said that Qatar’s state-owned LNG producer, signed a deal to supply Argentina with 5 million tons of liquefied natural gas (LNG) a year for the next 20 years,The National reported.

Qatargas will start exporting the LNG, which amounts to 15 percent of Argentina’s total demand, in 2014 via Energia Argentina Sociedad Anonima, Argentina’s state-owned energy company.

Qatar recently made other long term contracts with the UK, Japan, and other major consumers in order to plan production. This year, Qatar, which is the world’s biggest LNG producer and third largest holder of natural gas reserves, plans to produce 77 million tons yearly by 2012.

The increase LNG exports have caused Qatar’s GDP growth to skyrocket to an estimated 20 percent this year, the IMF said.

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