Qatar signs 27-year gas supply deal with China’s CNPC: minister

Qatar has agreed to supply the China National
Petroleum Corporation with natural gas for 27 years, the Gulf country’s
energy minister said on Tuesday.

Qatar will supply four million tons a year, said Energy Minister Saad al-
Kaabi, QatarEnergy’s CEO, seven months after a deal with the same terms was
struck with China’s Sinopec.

“Qatar will supply four million tons annually of natural gas from the North
Field East Expansion Project to China over a period of 27 years,” Kaabi told
a signing ceremony in Doha.

“This will become the second LNG (liquefied natural gas) sale and purchase
agreement to China within the North Field East Expansion Project.”

The two deals are the longest seen in the liquefied gas industry.

By expanding the exploitation of North Field, which has the world’s biggest
natural gas reserves and extends under the Gulf into Iranian territory, Qatar
is raising its LNG production by 60 percent-plus to 126 million tons a year
by 2027.

Asian countries led by China, Japan and South Korea are the main market for
Qatar’s gas, which has been increasingly sought by European countries since
Russia’s invasion of Ukraine early last year. (BSS/AFP)