Chinese energy giant CNPC signed 27-year LNG supply deal with QatarEnergy

 

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Qatar secured its second large gas supply deal with China’s state-owned energy giant in less than a year.

China National Petroleum Corporation (CNPC) and QatarEnergy signed a 27-year agreement, under which China will purchase 4 million metric tons of liquefied natural gas (LNG) a year from the Gulf Arab state.

CNPC will take an equity stake in the eastern expansion of Qatar’s North Field LNG project, QatarEnergy chief Saad al-Kaabi said.That is the equivalent of 5% of one LNG train with capacity of 8 million metric tons a year.

Earlier, QatarEnergy has signed a 27-year supply agreement with China’s Sinopec in November for 4 million metric tons a year. Sinopec also took an equity stake equivalent to 5% of one LNG train of 8 million metric tons a year capacity.