China signs major LNG deal with Qatar as Beijing’s Gulf push continues
QatarEnergy inked a 27-year agreement with the China National Petroleum Corporation (CNPC) to provide 4 million tons of LNG per year.
Qatar signed a major liquified natural gas (LNG) deal with China on Tuesday, further strengthening the Gulf state’s energy ties to the People’s Republic.
QatarEnergy inked a 27-year agreement with the China National Petroleum Corporation (CNPC) to provide 4 million tons of LNG per year. CNPC will also receive a 5% interest in Qatar’s North Field East expansion project. The stake is equivalent to one LNG “train” with a capacity of 8 million tons per year, according to a press release. LNG trains are facilities in which gas is converted into liquid form.
Qatari Energy Minister Saad Al-Kaabi said they are pleased to “build on the excellent relations between the People’s Republic of China and the State of Qatar.” Kaabi is also president and CEO of QatarEnergy.
QatarEnergy and CNPC are both state-owned entities.
