E.ON Increases European LNG Clout

Germany-based E.ON and Qatar’s RasGas have clinched an agreement to ship liquefied natural gas (LNG) from Qatar to the United Kingdom. 

‘E.ON and RasGas Company Limited (RasGas) have signed a medium-term flexible contract, with immediate effect, for the supply of liquefied natural gas (LNG) from Qatar to the Isle of Grain in the United Kingdom. The three-year contract has the potential to supply up to around two billion cubic meters over its term,’ reads a note released on Wednesday.

According to recent estimates, Qatar is the third country in the world for proven reserves after Iran and Russia.

‘The contract is a significant step in the development of our global growth strategy and is another big step in the development of our long-term partnership with the State of Qatar. In a rapidly changing LNG marketplace, we are very pleased to have been able to reach an agreement that supports the ambitions of both our companies. Further, the deal enables us to take advantage of our existing UK regas position,’ Christopher Delbrück, CEO of E.ON Global Commodities SE, commented in the press release. 

RasGas has four long-term LNG contracts in Europe.