Qatargas bridges Qatar, Korea's close energy relationship

Qatargas LNG plant / Courtesy of Qatargas

Qatar and Korea share a strong relationship spanning over 40 years and have achieved great milestones and accomplishments together.

Qatargas Operating Company Limited is proud that the Republic of Korea is one of its foundation customers, and a shareholder in the Ras Laffan Liquefied Natural Gas Company (RL1).

In 1995, Qatargas signed its first LNG sale and purchase agreement with Korea, and four years later delivered its first shipment. Since then, Qatargas has increased its deliveries to reach more than 9 million tonnes per annum of LNG to Korean customers. In April 2017, Qatargas successfully delivered its 2,000th LNG shipment to KOGAS.

Today, Qatargas is the largest LNG supplier in the world with a production capacity of 77 million tonnes per annum and a fleet of 69 vessels delivering to a large portfolio of customers around the globe on either a long-, medium- or short-term basis.

Qatar Port and Berths for LNG Vessel / Courtesy of Qatargas

Qatargas has supplied LNG to nearly 60 customers in more than 20 countries and is gradually increasing its footprint in Asia. The oil and gas sector in Qatar is experiencing significant growth, and the recently announced LNG expansion to 126 million tonnes per annum by 2027 is a great example of the country's determination to develop its valuable hydrocarbon resources in the most effective and efficient manner, and play a major role in energy transition.

Qatar clearly intends to maintain its leading position in the LNG industry and is determined to continue supplying the market with lower-carbon and reliable energy. This decision also shows Qatargas' strong belief in the future of LNG as an ideal companion for renewables during the transition towards an increasingly decarbonized global energy mix, driven by changes in policy and regulations.

Qatargas is privileged to serve the Republic of Korea's growing energy needs and make a significant contribution to the economic cooperation between Korea and Qatar.