ADDITIONAL LNG SUPPLIES TO PETROCHINA

Beijing, China, 13 November 2009: Qatargas Operating Company Ltd. (Qatargas) signed a Memorandum of Understanding (MOU) with Petrochina International Company Ltd. (PetroChina), a wholly owned subsidiary of the Chinese National Petroleum Corporation, to supply  two million tonnes per annum liquefied natural gas to China.

His Excellency Abdullah Bin Hamad Al-Attiyah, Deputy Prime Minister of The State of   Qatar and The Minister of Energy and Industry who was in Beijing to attend the opening of Qatargas’ Representative Office in the People’s Republic of China had witnessed the signing of the MOU by Mr. Zhang Yongxiang, Vice President of PetroChina and Mr. Faisal M. Al Suwaidi, Chairman and Chief Executive Officer of Qatargas.

In addition to  the three million tonnes per annum  to be supplied from Qatargas produced LNG to PetroChina’s LNG receiving terminals in the People’s Republic of China, the new volumes agreed under the MOU will increase the total volumes of the long-term LNG deliveries from Qatargas to PetroChina to five million tonnes per annum. 

The initial supply of three million tonnes of LNG is expected to commence with the start-up of Train 7, under the Qatargas 4 Company.  The timing of the supply of the two million tonnes of LNG as contemplated by the MOU is expected to start in the first half of the next decade.

Mr. Faisal M. Al Suwaidi said: “I am extremely excited that we are able to announce the strengthening of our relationship with PetroChina on the same day we have celebrated the opening of our Representative Office in the People’s Republic of China.”

The State of Qatar is now the world’s largest LNG producer and anticipates that China will become one of the world’s largest gas markets.