Qatar signs 27-year deal with China as LNG competition heats up

Qatar's Minister of State for Energy Affairs and President and CEO of QatarEnergy Saad Sherida al-Kaabi in Doha on June 19, 2022 [KARIM JAAFAR/AFP via Getty Images]

QatarEnergy has signed a 27-year deal to supply China's Sinopec with liquefied natural gas (LNG), the longest such LNG agreement, so far, as volatile markets drive buyers to seek long-term deals, Reuters reports. Following Russia's invasion of Ukraine in February, competition for LNG has become intense, with Europe, in particular, needing vast amounts to help replace Russian pipeline gas that used to make up almost 40 per cent of the continent's imports. "Today is an important milestone for the first sales and purchase agreement (SPA) for North Field East project; it is 4 million tonnes for 27 years to Sinopec of China," QatarEnergy Chief, Saad Al-Kaabi told Reuters in Doha, shortly before the deal signing. "It signifies long-term deals are […] Source

You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes