HomeEconomyChina and Qatar have...

China and Qatar have signed a gas contract for 27 years

QatarEnergy will sell 4 million tons of LNG per year to Chinese energy company Sinopec.

The Qatari state-owned company QatarEnergy and the Chinese Sinopec have signed a contract for the supply of liquefied natural gas (LNG) for 27 years. Reuters reported this on Monday, November 21.

function news4536800() {
$.get(‘//’ + window.location.host + ‘/ajax/module.aspx?spm_id=444&id=4536800&lang=2&IsAjax=true’, function (data) { $(‘#nk4536800’).html(data); });
}

news4536800();

The agency wrote that after Russia’s attack on Ukraine, competition for LNG in the world has intensified, and Europe in particular needs large quantities to replace Russian pipeline gas, which previously accounted for nearly 40% of import it.

“Today is a milestone for the first LNG sales and purchase agreement for the North Field East project, which is 4 million tons over 27 years for China’s Sinopec,” said QatarEnergy CEO Saad al-Kaabi before the deal was signed.

The northern field is part of the world’s largest gas field, which Qatar shares with Iran, which calls its portion South Pars.

QatarEnergy signed earlier this year five agreements to expand the North Field, which includes six LNG lines that will increase Qatar’s liquefaction capacity from 77 million tons per year to 126 million tons per year by 2027.

Kaabi added that negotiations are ongoing with other buyers in China and Europe who want to ensure security of supply.

Qatar is already the world’s largest LNG exporter, and its North Field expansion project will strengthen that position and help secure long-term gas supplies to Europe as the continent looks for alternatives to Russian flows. .

It will be remembered that during the 10 months of 2022, China reduced gas purchases by 10%. At the same time, in terms of value, gas imports grew by almost 40% to $55.19 billion.

It has also been reported that China is buying gas from the Russian Federation at half price and selling it at a higher price to Europe. But in October, the PRC authorities abandoned this work to calmly go through the heating season.

News from Correspondent.net on Telegram. Subscribe to our channel Athletistic

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

In Latka, the skeleton of the bend and posts (photographs) was struck

As a result of the Russian attack, the number of death in Latsk increased. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } Rescuers owed the body of a 27-year-old dead...

James Gunn confirms post-credit scene in ‘Superman’

With the next launch, the new creative director of the DC universe, James Gunn, confirms that 'Superman' will have scenes you creditsThe premiere of the new Steel Man movie is getting closer and closer and with it news is being released by the producers. 'Superman' will be...

Blackpink’s Jennie joins the list of ‘best albums of 2025, so far’

Blackpink member Jennie enters the list of 'best albums of 2025, so far' pleasing criticism; look!DIVA! With great influence on the music industry, Rolling Stone magazine shares annually in early June the 66 albums considered by its critics the best of the year so far. Including all...

5 Pixar movies that everyone needs to watch

In addition to Toy Story, who was the studio's first long -term movie; Check out 5 more Pixar animations that everyone needs to watch!How many Pixar movies have you watched? The studio, which emerged independently on February 3, 1986 launching only short films, took an important step...