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Posted On: 20 June 2023 12:33 pm
Updated On: 20 June 2023 01:20 pm

Qatar to secure second big LNG supply deal with China

Vrinda Abilash
Vrinda Abilash
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Qatarenergy secure second big lng supply deal china shutterstock 2199681649

A report by Reuters on 20 June 2023 mentioned that, Qatar is set to secure its second gas supply deal with a Chinese state-controlled company. As per the publication, this is as told to them by the sources familiar with the deal.

According to the report, China National Petroleum Corporation (CNPC) and QatarEnergy are expected to sign a 27-year agreement on 20 June 2023. Under this deal, China will purchase 4 million metric tons of LNG a year from Qatar, as per sources.

Sources told Reuters that CNPC will take a 5% equity stake in the expansion of Qatar's North Field East (NFE) expansion project. This capacity amounts to the capacity of 8 million tons per year.

Earlier, in 2022, China signed an agreement to purchase LNG from Qatar.

20 June's deal was first reported by the Financial Times, which will be QatarEnergy's third deal to supply LNG from the expansion to an Asian buyer.

Source: Reuters, Financial Times, QatarEnergy
Cover image credit: Shutterstock (used for representation only)