Qatar Energy and Sinopec signed a long-term contract

ГосконтрактThe agreement was signed for a period of 27 years

Qatar Energy signed with China Petroleum & Chemical Corporation (Sinopec) has signed a contract for the supply of 4 million tons of liquefied natural gas (LNG) per year to China for 27 years, the press service of the Qatari state-owned company reports. In accordance with the terms of the agreement, the contracted volumes of LNG will be delivered from Qatar Energy's project to increase LNG production and production (North Field East) and will be delivered to Sinopec receiving terminals in China.

This is the second LNG supply agreement between Qatar Energy and Sinopec. In March 2021, a 10-year contract was signed for the supply of 2 million tons of LNG per year to China.

The agreement is the first long-term LNG supply agreement under the NFE project and follows Qatar Energy's conclusion of eight international partnership agreements within the framework of the NFE and NFS Northern field expansion projects, which are planned to be brought to full capacity in 2026 and 2027.

In support of the NFE and NFS expansion projects, Qatar Energy has also signed contracts for the construction of new vessels and long-term time charter agreements for a total of 60 gas tankers. In the future, the LNG tanker fleet is planned to increase to almost 100 vessels.

We should add that together NFE and NFS are presenting a large-scale project to increase LNG production at the North Field field, which will be able to add 48 million tons per year to Qatar's export capacities and bring them to 126 million tons per year by 2028. The part of the project related to the expansion of production in the southern part of the field includes five platforms, 50 wells and the laying of gas pipelines to the onshore processing plant. Two liquefaction plants with a capacity of up to 8 million tons per year will be built for gas processing.

Source: https://portnews.ru/news/338948/