2023-11-04 16:16:15
China has signed another major long-term deal with Qatar for the supply of liquefied natural gas (LNG). This is a new step by the Chinese to secure the energy supply in the country.
China Petroleum & Chemical Corporation signed the 27-year agreement with QatarEnergy, the Qatari state-owned company announced. This involves the supply of 3 million tons of LNG per year.
It was previously announced that China is concluding plenty of deals to buy gas until 2050. Last month it was also announced that Shell and QatarEnergy had entered into a long-term agreement for the supply of natural gas to the Netherlands. That deal involves the supply of up to 3.5 million tons of LNG per year.
Before that, the Qatari company had also announced a similar deal with the French TotalEnergies. European energy companies want to conclude long-term and large gas deals, now that Europe is preparing for the second winter without Russian gas. Europe relied on this for more than half a century, but since the war in Ukraine the supply of this gas has almost completely disappeared.
Qatar is speeding up its search for customers since the Gulf state invested tens of billions of dollars to increase gas production by almost two-thirds by 2027.
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