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Sinopec and Qatar Petroleum sign first long-term LNG supply deal

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Qatar Petroleum and Sinopec sign a long-term LNG deal.
China Petroleum & Chemical Corporation (Sinopec) and Qatar Petroleum have entered into a 10-year contract for the supply of 2 million tons of LNG per year, the first long term LNG sale and purchase agreement between the two parties.

According to the agreement, the LNG deliveries will commence in January 2022 and will be delivered to Sinopec’s LNG terminals in China.

Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and President and CEO of Qatar Petroleum, said: “In a step that will further solidify the excellent bilateral relations between the People’s Republic of China and the State of Qatar, we are delighted to enter into this historic long term LNG sale and purchase agreement.”

Zhang Yuzhuo, Chairman of Sinopec Group, said: “Sinopec has been a strong advocate for cleaner and greener development. The signing of the long term LNG agreement with Qatar Petroleum is a further step by Sinopec to deliver its commitment to sustainability while meeting the growing needs of the Chinese market. We believe achieving carbon emission peak and carbon neutrality are responsibilities of the energy industry and call for transformation."

Since its first LNG delivery in September 2009 to date, Qatar had supplied more than 62 million tons of LNG to China.