Qatargas inks 5-year LNG deal with Austria's OMV

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Qatargas inks 5-year LNG deal with Austria’s OMV

Qatargas Operating Company Limited (Qatargas) today announced the signing of a new Sale and Purchase Agreement (SPA) with OMV Gas Marketing & Trading GmbH (OMV). Under the terms of the agreement, Qatargas will deliver up to 1.1 million tonnes of Liquefied Natural Gas (LNG) per annum to the Austrian company for five years.

Commenting on this occasion, Mr. Saad Sherida Al-Kaabi, President and Chief Executive Officer of Qatar Petroleum, and Chairman of the Qatargas Board of Directors, said: “We are very pleased to announce this new deal with OMV – an international, integrated oil and gas company operating from the heart of Europe. OMV provides major European customers and distributors with tailored natural gas solutions, and we look forward to supplying them with reliable Qatari LNG.”

Mr. Al-Kaabi added: “With this deal, Qatargas has once again demonstrated its ability to capture new opportunities and expand its network of customers in an evolving market.”

Commenting on the new SPA, Sheikh Khalid Bin Khalifa Al-Thani, Chief Executive Officer, Qatargas, said: “Qatargas is delighted to conclude this new SPA with OMV, and welcome another leading company to our client portfolio. This new deal is testament to our proven ability to supply reliable clean energy to customers in Europe, and to our customers all over the world. Qatargas’ reliability and flexibility are just two of the reasons why we are known as the World’s Premier LNG Company.”

Manfred Leitner, OMV Executive Board member responsible for Downstream, said: “The agreement is in line with OMV’s gas strategy to ensure security of supply for Europe and it supports our efforts to employ our LNG infrastructure including the GATE terminal in Rotterdam. This milestone follows on years of a successful business relationship and we are pleased to now add Qatargas as one of our long-term suppliers of LNG.”

Commencing in January 2019, the SPA provides for the supply of LNG from Qatar Liquefied Gas Company Limited (4) (“Qatargas 4”), a joint venture between Qatar Petroleum (70%) and Shell (30%). The LNG will be delivered to the Gate LNG Terminal in the Netherlands on board Qatargas’ chartered LNG vessels.

Source: www.qatargas.com

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.