An affiliate of Qatar Petroleum and the French LNG terminal operator Elengy – a subsidiary of ENGIE Group – recently entered into a long-term agreement for LNG receiving, storage and regasification services at the Montoir-de-Bretagne LNG Terminal in France.
Under the agreement, Qatar Terminal Limited (QTL) – a subsidiary of Qatar Petroleum – will subscribe to the equivalent of almost 3 million tonnes per annum of the terminal’s throughput capacity for a term up to 2035.
Montoir-de-Bretagne LNG will thereby become a new LNG import terminal position for Qatar Petroleum in Europe, facilitating the supply of Qatari and internationally sourced LNG to French and European customers. The agreement is a result of a formal ‘Open Subscription Period’ process that was conducted and concluded during the second half of 2019 pursuant to the rules of the French Energy Regulatory Commission (CRE).
The agreement was signed in Paris by HE Saad Sherida Al Kaabi, Minister of State for Energy Affairs and President/CEO of Qatar Petroleum, and Elengy CEO Sandra Roche-Vu Quang. The signing was signed in the presence of HE Jean-Baptiste Lemoyne, France’s Minister of State attached to the Minister for Europe and Foreign Affairs, with whom HE Al Kaabi also met to discuss further cooperation between France and Qatar.
HE Saad Sherida Al Kaabi said that by signing the agreement, they are providing France, and Europe as a whole, reliable energy supplies as well as increased utilisation of gas as a cleaner and more environmentally-friendly source of energy. He said that they are also taking another step into the future by establishing a long-term partnership with Elengy well into the next decade. He added that they look forward to further strengthening this relationship in the future.
The minister also highlighted the strong Qatari-French partnerships in general and especially in the energy sector, as well as Qatar Petroleum’s commitment to Europe’s energy security.
Elengy CEO Sandra Roche-Vu Quang meanwhile, remarked how the deal marked a key milestone for Elengy. She said that as pioneers in the LNG industry, they are extremely proud of the agreement, a major step which she said, will hopefully result in an even closer cooperation in the coming years.
Located on France’s Atlantic coast, the Montoir-de-Bretagne LNG Terminal currently has 360,000 cubic metres of LNG storage capacity spread across three tanks and an annual throughput capacity of 10 billion cubic metres of natural gas. The terminal is operated by Elengy, which has over 50 years of LNG experience and operates two other terminals in France: Fos Tonkin and Fos Cavaou on the Mediterranean coast.