TEPCO, Qatargas Sign New LNG Deal

Tokyo Electric Power Company (TEPCO) entered into an LNG Sales and Purchase Agreement with Qatargas for supply of liquefied natural gas (LNG) of one million tonne of LNG per annum on a long-term basis effective from August 2012.

The Japanese utility said that addition supply of LNG was needed keeping in view the increased thermal power generation following the earthquake disaster.

Qatar started supplying LNG from 1997 and TEPCO received the first LNG cargo in 1999 under the Existing LNG Sales and Purchase Agreement with Qatargas. Since then, TEPCO has been receiving approximately 200,000 tonne per annum, based on the Existing SPA.