2024-01-01 13:25:19
Sweeteners
44
January 1, 2024, 04:22 PM
Doha – Al Sharq website
Qatari liquefied gas deals witnessed a huge boom in medium- and long-term contracts with European and Asian countries, as competition intensified between European and Asian countries to seize the largest possible amount of Qatari liquefied gas deals and secure supplies in the short and long term.
According to a report by the “Energy” website, which specializes in gas, oil and export affairs, Qatar Energy Company has concluded 6 new deals to export to Asia and Europe in 2023, the first of which was in early June 2023, to export 1.8 million tons annually to Bangladesh for a period of 15 years, starting from Year 2026.
The second deal was on June 20, 2023, with the Chinese National Petroleum Corporation (CNPC), to export 4 million tons to China for a period of 27 years starting in 2026, through its joint share in the expansion of the Qatari North Field.
While the third deal came on October 11 with the French company Total Energy, by signing two agreements to supply 3.5 million tons annually to France for a period of 27 years starting in 2026.
It is planned to supply these quantities from the two joint companies between Qatar Energy and Total Energy, which own shares in the North East and North South fields expansion projects, according to what was monitored by the Energy Research Unit.
The fourth deal was signed on October 18 to export 3.5 million tons annually of Qatari liquefied gas to the Netherlands for a period of 27 years starting in 2026.
These quantities are scheduled to be exported through two agreements signed with the international multinational company Shell through its joint share with Qatar Energy in the expansion projects of the North East and North South fields.
The fifth deal was also signed on October 23, with the Italian company Eni to export one million tons annually to Italy for a period of 27 years starting in 2026, through its joint share in the North East field expansion project.
The North Field expansion project aims to increase the production capacity of liquefied gas from 80 million tons per year currently to 126 million tons per year by 2026.
As for the sixth deal, it was signed on November 4, 2023 with the China Petrochemical Company Sinopec, to export 3 million tons of liquefied gas annually from the North South Field expansion project, for a period of 27 years starting in 2026.
The Thai oil and gas company “PTT” has been negotiating with Qatar since last July, to import one to two million tons annually of liquefied gas for a period of 15 years, but the deal has not been decided yet, according to what was monitored by the Energy Research Unit.
Qatar Energy Company is close to adding new agreements to Arab LNG deals with Asian and European companies, according to a recent statement by the Minister of Energy and CEO of the company, Saad bin Sherida Al-Kaabi, on December 18 (2023).
Qatar – the largest exporter of liquefied gas in 2022 – aims to increase its ability to export liquefied gas through the expansion of the North East Field and the North South Field, amid fierce competition with the United States and Australia.
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