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FinancialNews
22-11-22
QatarEnergy, China’s Sinopec ink 27-year deal to provide china with liquefied natural gas
(MENAFN) QatarEnergy has inked a 27-year agreement to provide China’s Sinopec with liquefied natural gas, the biggest LNG deal of this king so far as volatile markets trigger investors to look for long-term agreements.
After Russia’s attack on Ukraine at the start of this year, battle for LNG has become higher, with Europe mainly requiring massive amounts to help find other sources to sub Russian pipeline gas that was making up nearly 40 percent of the continent’s imports.
“Today is an important milestone for the first sales and purchase agreement for North Field East project, it is 4 million tons for 27 years to Sinopec of China,” QatarEnergy head Saad Al-Kaabi informed a news agency in Doha, soon before the agreement inking.
“It signifies long-term deals are here and important for both seller and buyer,” he stated.
The North Field is part of the glob’s largest gas sector that Qatar have control over with Iran, which names its part South Pars.
MENAFN22112022000045014228ID1105216478
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