Sinopec Joins Qatar’s North Field East (NFE) expansion Project

Sinopec Joins Qatar’s North Field East (NFE) expansion Project

QatarEnergy has announced the signing of a definitive partnership agreement with China Petrochemical Corporation (Sinopec) for the North Field East (NFE) expansion project, the largest project in the history of the LNG industry.

The agreement was signed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and Dr. MA Yong-sheng, the Chairman of Sinopec in a special signing ceremony held today at QatarEnergy’s headquarters and attended by senior executives from both companies.

The agreement marks the entry of Sinopec as a shareholder in one of the NFE joint venture companies that own the NFE project, one of the most critical projects in the global LNG industry. Pursuant to the terms of the agreement, QatarEnergy will transfer to Sinopec a 5% interest in the equivalent of one NFE train with a capacity of 8 million tons per annum (MTPA). This agreement will not affect the participating interests of any of the other shareholders.

Speaking at the signing ceremony, His Excellency Al-Kaabi said: “The People’s Republic of China is a major driver of the global energy markets as well as being one of the most important gas markets in the world and is a