The LNG will be supplied into the DP World Jebel Ali, Dubai LNG terminal that will be capable of receiving the cargoes using the new Q-Flex class of vessels via a Floating Storage and Regasification Unit. The LNG will be provided from the Qatargas 4 project in Qatar and shipped to Dubai LNG receiving terminal upon the start-up of commercial operations of these facilities. The supplies are expected to start around the end of the decade from Qatargas 4 and will be delivered during the regional summer period for the duration of the contract. Faisal Al Suwaidi, Chairman and Chief Executive Officer of Qatargas Operating Company Ltd. said: “We are pleased with this innovative market development, which will help fuel sustainable economic growth and development in the Middle East region. Dubai represents a new market for Qatari LNG and further demonstrates our commitment to diversify our customer base.” Ms. Linda Cook, Executive Director of Royal Dutch Shell plc, said: “The spectacular economic growth seen in Dubai in recent years is mirrored by Qatar’s emergence as a global energy giant. Shell is proud of its partnership role in this agreement, which cements Qatar’s position as the world’s leading LNG supplier and which will help to underpin Dubai’s growth for years to come”. The Qatargas 4 project, currently under construction in Qatar, is a joint venture between wholly-owned affiliates of Qatar Petroleum (70%) and Royal Dutch Shell plc (30%). |