Report: Long-term LNG contracts inked in the first quarter of 2016

The biggest LNG contract in Q1, 2016 was signed for the import of 3.8mtpa of LNG between Pakistan and Qatar, according to GlobalData’s new report. The start of 2016 saw the signing of five long-term contracts, of which this deal represents the largest.

Titled ‘Q1 2016 Long-term LNG Contracts Review‘, the report details the 15-year agreement between Pakistan State Oil Company and Qatargas, which will commence in 2016.

The LNG will be imported from Qatargas II (Train 5) liquefaction terminal to Pakistan’s Port Qasim Floating I regasification terminal, as part of the agreement. The long-term contract is the biggest in terms of volume among the world’s LNG importing countries.

The second biggest contract by volume was that signed between Veresen Inc and JERA Co., Inc, for the supply of 1.5mtpa of LNG for 20 years. The contract will be effective from 2021 to 2041. The LNG will be supplied from America’s Jordan Cove terminal to Japan.

The third biggest contracts in Q1 was signed by China’s ENN Group, which entered ten-year and five-year contracts with Chevron and Origin Energy respectively for shipping LNG from Australia. The two contracts will be effective from 2018.