Qatar, China Gas Supply Deal:
QatarEnergy recently announced a 27-year natural gas supply deal with China.
- QatarEnergy will send four million tonnes of liquefied natural gas annually from its new North Field East project to China Petroleum and Chemical Corporation (Sinopec).
- The deal “marks the longest gas supply agreement in the history of the LNG industry”.
- Asian countries led by China, Japan and South Korea are the main market for Qatar’s gas, which is increasingly being sought by European countries since Russia’s invasion of Ukraine.
- North Field is at the centre of Qatar’s expansion of its liquefied natural gas production by more than 60% to 126 million tonnes a year by 2027.
- North field accounts approximately 10% of the world’s known reserves.
- China is the first country to seal a deal for North Field East.