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Sinopec and QatarEnergy ink 27-year LNG agreementSinopec and QatarEnergy ink 27-year LNG agreement

China Petroleum & Chemical Corporation (Sinopec) and QatarEnergy have entered into a long-term liquefied natural gas (LNG) purchase and sales agreement for supplying four million tons of LNG to the Chinese company annually.

Katherine Si, China Correspondent

November 23, 2022

1 Min Read
Qatar Petroleum LNG carrier
Photo: Qatar Petroleum

The 27-year long-term LNG purchase and sale agreement is an important part of the integrated cooperation between the two parties, which will work together on Qatar's North Field Expansion Project.

"The signing of this agreement aligns with Sinopec's adherence to green, low-carbon, safe, and sustainable development," Sinopec Chairman Ma Yongsheng said, "The LNG supply will help meet the demand for natural gas in the Chinese market,but also further optimize China's energy mix while enhancing the security, stability, and reliability of energy supply."

"We are delighted to have reached this agreement, which will further strengthen the excellent bilateral relationship between China and Qatar," said H.E. Mr. Al-Kaabi, CEO of QatarEnergy, "The agreement will help to meet China's growing demand for clean energy. This cooperation, which spans different fields and will last for 27 years, marks an extraordinary and exciting new chapter of cooperation between the two sides.”

Northern Gas Field Expansion Project is expected to start the supply of LNG to Sinopec’s LNG receiving stations from 2026.

QatarEnergy has already commenced its contracting massive LNG carrier fleet expansion project including newbuildings from Chinese shipyard of Hudong-Zhonghua. 

Related:Asian consortium adds five LNG newbuilds for QatarEnergy

 

About the Author

Katherine Si

China Correspondent

China-based Katherine Si has worked in the maritime industry since 2008 is well-connected with local industry players including Chinese owners and yards.

Having majored in English Katherine started at news portal ShippingChina.com where she rose to become a News Editor. In 2008 she moved to work with Seatrade and has since held numerous positions including China correspondent for Seatrade Maritime Review magazine.

With extensive experience in writing, research and social media promotion, Katherine focuses on the shipping and transport sectors.

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