July 24, 2011 / 3:45 PM / 8 years ago

Qatar agrees to supply LNG to Malaysia for 20 years

DUBAI, July 24 (Reuters) - Qatargas agreed to supply Malaysia’s Petronas LNG Ltd 1.5 million tonnes of liquefied natural gas annually for at least 20 years from 2013, the world’s biggest LNG producer said on Sunday.

“It is the first time Qatargas has signed a HOA (heads of agreement) for supplying LNG to the South East Asian market,” Qatargas CEO Khalid Bin Khalifa Al Thani said in a statement.

“We are very pleased with this achievement as it represents the first long-term agreement for supplying LNG to one of the world’s fastest growing LNG markets,” he added.

The LNG supply from Qatar would be equivalent to about 5 percent of Malaysia’s current annual domestic natural gas demand, the statement said.

Qatar, the world’s biggest LNG exporter, can produce up to 77 million tonnes of LNG a year. (Reporting by Firouz Sedarat; Editing by Erica Billingham)

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