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QatarEnergy has entered a 27-year LNG supply deal with China's Sinopec, marking the longest gas supply agreement in the industry's history. Under the sale and purchase agreement (SPA), Qatar will supply China with 4 million tons/yr of LNG from its North Field East (NFE) expansion project. The volumes will be delivered to Sinopec's receiving terminals in China. Qatar's LNG exports to China have hit 13.6 million tons in 2022, already shattering the previous high of 9.6 million tons in 2021, according to data from analytics firm Kpler. The agreement with Sinopec is the first supply deal announced for NFE after QatarEnergy finalized equity partnerships for both phases of its giant LNG expansion — NFE and North Field South (NFS). Qatar has signed a number of supply deals with China including an agreement with Sinopec in March last year. The earlier SPA is for 2 million tons/yr of LNG over 10 years, starting this year — a substantial increase from what Sinopec had sought in an initial tender in 2020 in which it had invited sellers to compete for a 10-year, 1 million ton/yr LNG contract.

LNG Contracts, Gas Supply, Liquefaction, LNG Supply, LNG Trade
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