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BREAKING
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street
Gaza Civil Defense spokesman: Claims that the Israeli occupation has withdrawn from areas in the neighborhoods of al-Zaytoun, al-Tuffah, and al-Shujaiya are false
Hamas: The two delegations stressed that any negotiations must lead to the achievement of our people's goals and aspirations, foremost among which is ending the war and the complete withdrawal of enemy forces
Hamas: A delegation from the Hamas leadership, led by the head of the leadership council, Mohammad Darwish, met with an Islamic Jihad delegation, headed by its Secretary-General, Ziyad al-Nakhalah

Qatar, China's CNPC sign 27-year gas deal

  • By Al Mayadeen English
  • Source: Agencies
  • 20 Jun 2023 14:35
4 Min Read

Qatar and the China National Petroleum Corporation have reached a deal to supply the latter with natural gas for the coming 27 years.

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  • A gas production facility is seen at Ras Laffan, Qatar, April 4, 2009 (AP)
    A gas production facility is seen at Ras Laffan, Qatar, April 4, 2009 (AP)

Qatar agreed Tuesday to supply the China National Petroleum Corporation (CNPC), Qatari energy minister Saad bin Sherida Al Kaabi.

Qatar will supply four million tons a year, Al-Kaabi said, QatarEnergy's CEO, seven months after a deal with the same terms was struck with China's Sinopec.

"Qatar will supply four million tons annually of natural gas from the North Field East Expansion Project to China over a period of 27 years," Al-Kaabi told a signing ceremony in Doha. 

"This will become the second LNG (liquefied natural gas) sale and purchase agreement to China within the North Field East Expansion Project."

The two deals are the longest-ever seen in the liquefied gas industry. 

Qatar, expanding its usage and exploitation of the LNG in the North Field, which has the world's biggest natural gas reserves, extends under the Gulf into Iran.

The expansion of the North Field's exploitation will see Qatar raising its LNG production by 60% to 12 million tons a year by 2027.

Asian countries, led by China, Japan, and South Korea, are the main importers of Qatari gas, a very precious resource for Europe since the phase-out of Russian gas in the European Union since the outbreak of the Ukraine war.

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China in April set a precedent in the natural gas sector after its Sinopec became the first Asian company to partner with Doha's QatarEnergy on the expansion of North Field East.

China Petroleum and Chemical Corporation (Sinopec) submitted a request to acquire a share in the Qatari LNG project in November 2022, just after the firm signed a 27-year gas purchase agreement with QE - the longest LNG contract recorded in the Industry.

So far, Western energy companies have the biggest share in the project, making Sinopec's share acquisition a breakthrough.

The North Field is the largest recorded energy well - with estimated reserves of 1,810 Tcf of natural gas and which extends into Iran's maritime territory.

With the $28.75 billion expansion, QatarEnergy said it expects the annual production to increase from 77 million tonnes a year to 110 million by 2027 - 8 million tonnes of which will go to Sinopec, according to its new five percent share buy-in.

Commenting on the deal, Qatar's Energy Minister described it as a "milestone agreement" and a new "landmark" for relations between Doha and Beijing. Not providing further details on Sinopec's bid value, Minister Saad Sherida Al-Kaabi said it "will not affect the participating interests of any of the other shareholders."

Sinopec chief Ma Yongsheng stated that the stake acquisition would "enhance the security, stability, and reliability of clean energy supply. I hope that the two companies will continue to explore new LNG cooperation opportunities based on the solid foundation we have laid together."

Al-Kaabi announced in October that Shell will buy a 9.375% stake in North Field South (NFS), another LNG project developed by the country, which will increase Qatar's LNG output capacity by 16 million tons per year.

TotalEnergies SE also joined the project in September, with a 9.375% stake worth approximately $1.5 billion.

American ConocoPhilips energy giant later acquired the final shares offered by QE at 6.25%, while the state-owned energy company will keep 75% of the shares.

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  • liquified natural gas
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  • European Union
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