Edison Gas to buy LNG from RasGas project
Edison Gas SPA has agreed to buy 3.5 million tonnes/year of liquefied natural gas from Ras Laffan Liquefied Natural Gas Co. Ltd. (RasGas) for 25 years. Financial terms were not disclosed.
By the OGJ Online Staff
HOUSTON, June 26 -- Edison Gas SPA has agreed to buy 3.5 million tonnes/year of liquefied natural gas from Ras Laffan Liquefied Natural Gas Co. Ltd. (RasGas) for 25 years.
Financial terms were not disclosed.
RasGas, a joint venture between Qatar Petroleum and an ExxonMobil Corp. affiliate, will begin delivering the LNG in 2005 to a receiving-regasification facility in the North Adriatic off Italy.
RasGas is expanding its LNG facilities at Ras Laffan in Qatar by adding a fourth train, bringing total capacity to 16 million tonnes/year. The gas will be produced from Qatar's North field.
Stuart McGill, President of ExxonMobil Gas Marketing Co., said, "The [agreement] between RasGas and Edison will combine the considerable strengths of both parties to bring a new source of gas supply to the Northern Italian market."
The announcement follows one outlining an agreement under which RasGas will supply 5 million tonnes/year of LNG to Petronet Ltd. of India.
Earlier this month, ExxonMobil signed a letter of intent to conduct a feasibility study for a gas-to-liquids plant in Qatar (OGJ Online, June 15, 2001).