Sinopec acquires stake in Qatar’s North Field East LNG – MEED

Sinopec acquires stake in Qatar’s North Field East LNG – MEED

The Chinese firm would hold a five per cent stake in the QatarEnergy project, EPC works on which are currently progressing

QatarEnergy has announced selling a five per cent stake in its North Field East (NFE) liquefied natural gas (LNG) production project to China Petroleum & Chemical Corporation (Sinopec).

The NFE stake transferred to Sinopec is the equivalent of one LNG train with a capacity of 8 million tonnes a year (t/y), QatarEnergy said in a statement on 12 April, after signing the shareholder agreement with the Chinese state-owned company in Doha. The value of Sinopec’s stake was not disclosed.