RELEASE: Sinopec and QatarEnergy reach long-term agreement on LNG

(Information sent by the signatory company).

RELEASE: Sinopec and QatarEnergy reach long-term agreement on LNG

(Information sent by the signatory company)

- The agreement will see QatarEnergy supply 4 million tons of LNG to Sinopec every year, and both sides carry out integrated cooperation in the northern gas field expansion project

BEIJING, Nov. 22, 2022 /PRNewswire/ -- China Petroleum

The long-term 27-year LNG purchase and sale agreement is an important part of the integrated cooperation between both parties. Sinopec Chairman Ma Yongsheng and Qatar Energy Minister of State, Chairman and CEO of QatarEnergy, H.E. Saad Sherida Al-Kaabi, formally signed the agreement together during an online ceremony.

China and Qatar have enjoyed close and friendly ties while creating synergies in the energy sector, Ma said. The healthy level of diplomacy creates a favorable environment for both sides to continuously deepen their cooperation.

"The signing of this agreement is in line with Sinopec's adherence to green, low-carbon, safe and sustainable development," Ma explained. "The LNG supply will help meet the demand for natural gas in the Chinese market, but also It will further optimize China's energy mix, while improving the security, stability and reliability of energy supply."

"We are delighted to have reached this agreement, which will further strengthen the excellent bilateral relationship between China and Qatar," said H.E. Al-Kabi. "The agreement will help meet China's growing demand for clean energy. This 27-year spanning cooperation marks an extraordinary and exciting new chapter of cooperation between the two parties."

The commissioning of the Northern Gas Field Expansion Project is scheduled for 2026. This agreement is the second long-term LNG purchase and sale agreement signed between Sinopec and QatarEnergy, and the first LNG purchase and sale agreement long term for the project.

For more information visit Sinopec.

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