China National Petroleum Corporation (CNPC) has secured a deal with QatarEnergy which ensures sufficient national gas supply.
The two parties signed a 27-year agreement in Doha, the capital of Qatar.
QatarEnergy will provide CNPC with 4 million tons of LNG for each of the next 27 years, totaling 108 million tons. This accounted for approximately 6.3 percent of China’s LNG imports last year.
Additionally, CNPC will also acquire a 1.25 percent share in the expansion of Qatar’s North Field East LNG project, the world’s largest single gas field. The expansion includes gas field development and constructing four LNG production lines, with a capacity of 8 million tons per year.
Companies including TotalEnergies, ConocoPhillips and ExxonMobil have joined the North Field East LNG project.
The agreement is a milestone in the cooperation between China and Qatar, aligning with China’s Belt and Road Initiative and Qatar’s National Vision 2030.
