The signing of the SPA with Gas Natural came six months after a heads of agreement was reached. The SPA calls for the supply of 30 million tonnes of LNG, starting in 2005, as well as the extension to 2012 of existing mid-term contracts for an incremental 6 million tonnes. The gas will be supplied from Qatargas' three existing trains at Ras Laffan.

Qatar Petroleum (QP), through its affiliate Qatar Terminal, and Zeebrugge LNG Trading Company, part of the US' ExxonMobil Corporation, signed the long-term agreement capacity agreement with Fluxys LNG. The agreement will secure capacity from late 2007. The capacity will be used by Ras Laffan Liquefied Natural Company II (RasGas II), owned by QP and ExxonMobil.

QP and ExxonMobil signed an agreement last November to take a 45 per cent stake in the Edison LNGterminal in Italy, which will also be supplied with gas from RasGas II. The two companies are also planning to build a 15.6 million-t/y terminal in Wales as part of the integrated Qatargas II project.