StatoilHydro signs LNG deal with Qatar's RasGas

RasGas to deliver LNG to Norwegian energy giant's terminal in the US

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Related: Qatar could divert UK LNG to Asian markets | Qatari minister says LNG market will grow

StatoilHydro has announced that it signed a deal with company RasGas that will see the Qatari company deliver liquefied natural gas (LNG) to the Cove Point teminal in the USA.

News agency Reuters reported that the amount of LNG supplied in the short-term agreement will depend on a few different factors.

"The number of LNG cargoes actually delivered to Statoil at Cove Point will depend on such factors as the competitiveness of US gas prices," spokeswoman Rannveig Stangeland is reported by Reuters as saying.

"The deal confirms the attractiveness of Cove Point, which is located close to interesting gas markets," she added. 

The deal comes after Qatar announced that they would be looking to offload surplus gas for the UK market. There is a current slump in demand for LNG and Qatar is hoping that it can find a number of alternative short term customers.



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