AA / Doha / Ahmed Hatem
Qatar Energy (government) announced on Monday the signing of a sale and purchase agreement with China Petroleum and Chemical Corporation (Sinopec) to supply four million tonnes per year of liquefied natural gas (LNG) to China during a period of 27 years.
The Qatari company said in a statement that the quantities of LNG will be supplied by the Northeast Field Expansion Project and will be delivered to the receiving stations of the Chinese group Sinopec.
It is the second such deal since March 2021, when Qatar Energy signed an agreement with Sinopec to supply 2 million tonnes per year of liquefied natural gas to China for a period of 10 years.
This contract is the longest in the history of the LNG industry.
Qatar is the world’s largest supplier of LNG, while China is the largest importer.
Saad bin Sherida Al-Kaabi, Qatari Minister of Energy, Chairman and CEO of Qatar Energy, said the agreement strengthens the distinguished bilateral relations between China and Qatar and will help meet China’s growing energy needs. .
Al-Kaabi added that this was the first sale and purchase agreement for the North East Field project.
The agreement follows the completion of Qatar Energy’s formation of eight international partnerships in the Northeast and South field expansion projects, which are expected to start production in 2026 and 2027, respectively.
Qatar Energy has also entered into contracts to build, lease and operate 60 LNG carriers under its landmark shipbuilding program to support the North East Field and North South Field expansion projects, which are expected to grow to around 100 tankers. in the future.
*Translated from Arabic by Wejden Jlassi
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