Qatar signs 27-year deal with China as LNG competition heats up

Qatar signs 27-year deal with China as LNG competition heats up

DOHA, Qatar-

QatarEnergy has signed a 27-year deal to supply China’s Sinopec with liquefied natural gas (LNG), the longest such LNG agreement so far as volatile markets drive buyers to seek long-term deals.

Following Russia’s invasion of Ukraine in February, competition for LNG has become intense, with Europe in particular needing vast amounts to help replace Russian pipeline gas that used to make up almost 40% of the continent’s imports.