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Sinopec and QatarEnergy ink 27-year LNG agreement

Photo: Qatar Petroleum Qatar Petroleum LNG carrier.png
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.

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. 

 

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