China’s Sinopec acquires stake in Qatar gas project
Chinese energy firms are increasingly cooperating with their Qatari and Saudi counterparts as the People’s Republic makes further inroads into the region.
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The Chinese oil giant Sinopec acquired a stake in a field owned by Qatar’s state-owned energy firm on Wednesday as Beijing increases its influence in the region.
The official Qatar News Agency reported that QatarEnergy will transfer a 5% stake in its North Field East. The stake has a capacity of eight million tons per year, according to the agency.