IMG.gif

Qatar

Copyright © 2022 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.

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.

Topics:
LNG Contracts, Gas Supply, Liquefaction, LNG Supply, LNG Trade
Wanda Ad #2 (article footer)
#
How feasible are Abu Dhabi's plans to accelerate its oil production capacity expansion, and where will the output actually come from?
Wed, Nov 23, 2022
EU member states remain fiercely divided over a gas cap and advocates are holding up passage of other energy measures as leverage.
Thu, Nov 24, 2022