BEIJING : State-owned Chinese firm Sinopec said on Saturday it had signed a new 27-year liquefied natural gas (LNG) supply and purchase agreement with Qatar Energy.
The logo of China Petroleum & Chemical Corporation, or Sinopec, is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/ File Photo
Under the agreement, the two firms will cooperate on the second phase of the North Field gas project, which will supply 3 million metric tons of LNG per year to Sinopec.The deal, signed at the China International Import Expo in Shanghai, is the third long-term supply deal between Sinopec and Qatar Energy, the world's top LNG supplier.
The two parties signed a 10-year LNG purchase and sales agreement in 2021, followed by a 27-year deal last year. The North Field is part of the world's largest gas field which Qatar shares with Iran, which calls its share South Pars. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.
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