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The Canadian Press - ONLINE EDITION
Qatar agrees to ship additional 2 million tons of natural gas to South Korea annually
DOHA, Qatar - Qatar's state-controlled RasGas has inked a long-term deal to supply additional liquefied natural gas to South Korea.
The deal signed Thursday calls for state-owned Korea Gas Corporation to purchase 2 million tons of the fuel annually for two decades starting in 2013.
The agreement adds to existing supply deals, meaning Qatar will soon be supplying South Korea a total of 9 million tons of the fuel annually.
Financial terms weren't disclosed.
OPEC member Qatar holds the world's third-largest reserves of natural gas. The small Gulf Arab nation has emerged as the biggest supplier of liquefied natural gas, a super-cooled form of the fuel condensed for easier transport aboard tanker ships.
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