Qatar Petroleum books capacity at Grain LNG Terminal
Qatar Petroleum has signed an agreement with the UK National Grid to reserve a capacity of up to 7.2 million tons per year at the Grain LNG terminal in Kent.
The pair signed a 25-year agreement with Qatar Petroleum with capacity available from mid-2025, it said in a Tuesday statement.
The agreement marks the end, the statement reads, of the competitive Open Season phase of Grain LNG, which began in November 2019.
Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, President and CEO of Qatar Petroleum, speaking at the signing ceremony, noted that the company is reaffirming its commitment to the gas market in the UK.
Jon Butterworth, managing director of National Grid Projects, added that LNG plays a vital role in securing the gas needs of the UK.
He noted that for the facility, the agreement secures the future.
The Isle of Grain LNG Terminal, located on the UK's southeast coast in Kent, began operations in 2005 and is controlled by the Office of Gas and Electricity Markets (Ofgem).
Currently, the terminal is able to store and supply enough gas to satisfy at least 25 percent of the demand for gas in the UK. It has 1,000,000 cubic meters of LNG storage space spread across 8 tanks and 20 billion cubic meters of natural gas annual throughput capacity.
The agreement will allow National Grid to expand its facilities with an additional tank and related vaporizer capacity, among other items, bringing its future annual capacity to 25 billion cubic meters of natural gas.
Maritime Business World