Qatar’s state-owned company ‘Qatar Energy’ has signed a liquefied natural gas (LNG) contract with Chinese petroleum refining company Sinopec. Under this 27-year contract, Qatar authorities will supply 4 million tons of liquefied natural gas to China.
Saad Al-Kaabi, CEO of Qatar Energy, confirmed this information to the media before signing the contract in Doha on Monday.
Saad Al-Kaabi said Qatar Energy’s deal is a milestone for the North Field East gas field. This is the largest single commercial deal in the company’s history. Such long-term contracts are important for both buyers and sellers.
He further said that the agreement will take our relations to new heights. Because this agreement will last until the 2050. Moreover, we are also in discussions with European buyers, including China, who want uninterrupted supply of liquefied gas.
Qatar has already become the world’s top LNG exporter. Moreover, the country will strengthen its position in the international LNG market through the expansion of the North Field East.
Qatar can help to reduce the energy crisis that has arisen around the world, especially in Europe, as a result of the Russia-Ukraine war. Moreover, Europe is also now looking for alternatives to Russia for energy imports and ensuring long-term gas supplies. In this case, Qatar can become a suitable destination.