25-year deal signed for LNG storage and re-delivery capacity

The Qatar Terminal Limited (QTL) and the United Kingdom’s National Grid Grain LNG has signed a 25-year deal for liquefied natural gas (LNG) storage and re-delivery capacity.

According to the details, the two companies signed the agreement for 25 years, which would be valid from mid-2025.

Qatar Petroleum president and CEO Saad Sherida Al-Kaabi said QTL will subscribe to the equivalent of up to 7.2 million tonnes per annum (Mtpa) of the LNG terminal’s future throughput capacity.

He said that “Our agreement with Grain LNG will strengthen our position in support of advancing greater access to secure, flexible, and reliable gas supplies for all customers in the UK.”

National Grid Ventures managing director Jon Butterworth said in his statement that: “Today is an important day for UK gas security, for Grain LNG, and for the community around the Isle of Grain. LNG imports play a critical role in making sure the UK has the gas it needs when it needs it.”

What is Grain LNG Terminal

As per the reports, the Grain LNG Terminal is situated on the Isle of Grain on the River Medway, Kent, 30km east of London.

Grain LNG Terminal has the capacity to receive and process up to 3.3Mtpa of LNG, or the equivalent of up to 13 million cubic metres (140GWh) of gas a day.