Chinese energy giant Sinopec has become the latest company to sign a long-term LNG supply deal with QatarEnergy.
China’s Sinopec has become the latest energy major to seal a 27-year LNG supply deal with QatarEnergy, for volumes of 3 million tons annually once the second phase of the North Field enters into operation. The partnership deal will also see Sinopec take part in the development of that second phase, which would boost the production capacity of Qatar’s biggest source of gas to 126 million tons annually by 2026 from 77 million tons currently.
” The expansion project involves the construction of six new liquefaction trains to process the gas extracted from the world’s largest offshore gas field. A lot of global energy majors are taking part in the expansion and locking in future supply. In recent weeks, three European supermajors also struck long-term supply deals for LNG from the expanded North Field with QatarEnergy. TotalEnergy signed its deal with the Qatari firm in early October, locking in an annual supply of 3.
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