ConocoPhillips and QatarEnergy to provide LNG to Germany

(Photo: Reuters)

ConocoPhillips and QatarEnergy announced two contracts to supply long-term LNG to Germany. Under the agreements, up to 2 metric tonnes per year (mtpa) will be sent to Germany for at least 15 years, the companies announced.

The two companies are joint venture partners in the North Field East and North Field South projects. The buyer is a wholly-owned subsidiary of ConocoPhillips. First delivery is expected in 2026 in the recently announced LNG terminal in Brunsbüttel.

His Excellency Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, and President and CEO of QatarEnergy, and Ryan Lance, chairman and chief executive officer of ConocoPhillips, signed the LNG sale and purchase agreements during a special ceremony held at QatarEnergy’s headquarters in Doha in the presence of senior executives from both companies.

“QatarEnergy and ConocoPhillips are excited for the opportunity to responsibly and securely supply world markets with LNG from the Qatari expansion projects,” said Ryan Lance. “These agreements will provide an attractive LNG offtake solution for our new joint ventures with QatarEnergy and position the joint ventures as reliable sources of LNG supply into Europe.”

“This is the culmination of efforts between two trusted partners, QatarEnergy and ConocoPhillips, over many years, to provide reliable and credible LNG supply solutions to customers across the globe, and today, to German end-consumers,” said His Excellency Minister Al-Kaabi. “Germany is the largest gas market in Europe, with significant demand in the industrial, power, and household sectors, and we are committed to contribute to the energy security of Germany and Europe at large.”

Through its joint ventures with QatarEnergy, ConocoPhillips holds a 3.125% interest in the NFE project and a 6.25% interest in the NFS project. The company has agreed to terminal services for a 15-year period at the German LNG Terminal.