OMV Signs LNG Agreement With Qatargas

By Euan Conley Features Dow Jones Newswires

Qatargas said Wednesday that it has signed a five-year sale-and-purchase agreement with OMV AG (OMV.VI) to deliver up to 1.1 million metric tons of liquefied natural gas per year to the Austrian oil-and-gas company.

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State-backed Qatargas said the agreement will begin from January 2019, with liquefied natural gas, LNG, supply set to be delivered to the Netherlands.

"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," said Manfred Leitner, OMV's executive member responsible for its downstream business.

Neither party disclosed the value of the deal.

Write to Euan Conley at euan.conley@dowjones.com

(END) Dow Jones Newswires

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December 20, 2017 05:58 ET (10:58 GMT)