September 24, 2008
RasGas II Signs Equity Participation Agreement With CPC
The Qatar-based Ras Laffan Liquefied Natural Gas Company II has signed an equity participation agreement with one of its long-term customers, the CPC Corporation of Taiwan.
The agreement comes as the culmination of a partnership dating back to 2003 when the Ras Laffan Liquefied Natural Gas Company II (RasGas II) first signed an exclusive heads of agreement with CPC.
Less than two years later, a LNG sales and purchase agreement between RasGas II and CPC, was signed in 2005. RasGas II loaded its first long-term FOB cargo of LNG to CPC in June 2008.
Under the terms of the sale and purchase agreement, CPC is entitled to acquire a 5% minority participating equity interest in the three million tonnes supplied by RasGas II.