Long term gas SPA penned by QP and Dolphin
Efforts to secure long-term gas supply have been assured with signing of new long-term contract between Dolphin Energy Limited and Qatar Petroleum
Qatar Petroleum (QP) and Dolphin Energy Limited (Dolphin) signed a long term gas sale and purchase agreement (SPA).
The SPA was signed by Saad Sherida Al Kaabi, president and CEO of QP, and Ahmed Ali Al Sayegh, managing director of Dolphin, in the presence of the Prime Minister and Interior Minister, H E Sheikh Abdullah bin Nasser Bin Khalifa Al Thani. Dr Sultan Bin Ahmed Al Jaber, Minister of State in the UAE and the chief executive officer of Abu Dhabi National Oil Company (ADNOC) was also in attendance.
Under the new agreement, through the existing 48-inch subsea pipeline for export to the UAE, QP will deliver additional gas to Dolphin, The Peninsula reported.
The agreement came in line with the goals set by the leadership of the two Gulf countries to grow areas of collaboration and to seek mutually beneficial opportunities, in the field of energy especially.
The agreement was viewed by Saad Al Kaabi as a significant achievement for the first cross-border gas pipeline project in the Middle East and indicative of Qatar’s continued pledge to regional energy cooperation. Al Kaabi said: “This agreement reinforces confidence in Qatar as a reliable regional and international supplier of gas as a clean energy source.”
He stressed QP’s assurance in meeting the UAE’s rising demand for gas: “QP’s support of the flagship Dolphin Gas Project has been instrumental in meeting the gas requirements of our brothers in the UAE and this new agreement is another strong testament to our commitment in this regard.”
Ahmed Al Sayegh, Dolphin managing director, said: “These developments help to support UAE’s development and transition to a low carbon economy and demonstrate our continued commitment to enhance energy security for the UAE by offering a source of reliable, clean energy for power generation.”
He also added that the success of the Dolphin Gas Project was, in part, “driven by our ability to meet the needs of our customers. As their requirements have changed, so we have responded accordingly and worked closely with our strategic partner, QP, to make this possible".
The additional gas quantities, as agreed on under the new agreement, will be allocated to SEWA and RAKGAS LLC using the existing UAE Eastern Gas Distribution Network.