Middle East Business: QatarEnergy signs 27-year deal to supply LNG to China – Gulf Digital News

Middle East Business: QatarEnergy signs 27-year deal to supply LNG to China – Gulf Digital News

QatarEnergy entered into a 27-year sale and purchase agreement (SPA) with China Petroleum & Chemical Corporation (Sinopec) for the supply of 4 million tons per annum (MTPA) of LNG to China.

Under the terms of the SPA, the contracted LNG volumes will be supplied from QatarEnergy’s North Filed East (NFE) LNG expansion project and will be delivered to Sinopec’s receiving terminals in China.

Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and Dr MA Yongsheng, the Chairman of Sinopec, signed the agreement today during a hybrid virtual / physical ceremony.

Joining Minister Al-Kaabi at QatarEnergy’s headquarters in Doha were senior executives from both companies, while Dr MA and other high level Sinopec executives participated virtually from Beijing.

Al-Kaabi said: “We are pleased to enter into this agreement, which will further solidify the excellent bilateral relations between the People’s Republic of China and the State of Qatar and help meet China's growing energy needs. In addition, it opens a new and exciting chapter in our relationship with Sinopec, one that is very special and spans a number of different areas, and which we are excited about further growing and expanding into the 2050s.”

He added: “This is the