Govt approves purchase of two additional LNG cargoes

The government has approved a proposal to purchase two additional cargoes of liquefied natural gas (LNG) from QatarEnergy Trading LLC under a long-term government-to-government agreement to meet the country’s growing energy demand.

The approval was given at the 46th meeting of the Cabinet Committee on Government Purchase (CCGP) this year on Wednesday.

According to the proposal, the two additional LNG cargoes will be supplied on 6 and 22 November.

The price of LNG has been set at $0.02 per MMBtu below the Japan Korea Marker (JKM) rate, which differs from the price set under the existing long-term agreement.

QatarEnergy Trading LLC has been recommended as the supplier of the two additional LNG cargoes.

The Energy and Mineral Resources Division placed the proposal before the committee, which approved it.

The purchase is part of the government’s ongoing efforts to ensure LNG supplies to meet the country’s rising energy demand.