QatarEnergy entered into a 27-year Sale and Purchase Agreement (SPA) with China Petroleum & Chemical Corporation (Sinopec) for the supply of 4 million tons per annum (MTPA) of LNG to the People’s Republic of China.
Under the terms of the SPA, the contracted LNG volumes will be supplied from QatarEnergy’s North Filed East (NFE) LNG expansion project and will be delivered to Sinopec’s receiving terminals in China.
His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and Dr. MA Yongsheng, the Chairman of Sinopec, signed the agreement today during a hybrid virtual / physical ceremony. Joining H.E. Minister Al-Kaabi at QatarEnergy’s headquarters in Doha were senior executives from both companies, while Dr. MA and other high level Sinopec executives participated virtually from Beijing.
In his remarks at the signing ceremony, His Excellency Minister Al-Kaabi said: “We are pleased to enter into this agreement, which will further solidify the excellent bilateral relations between the People’s Republic of China and the State of Qatar and help meet China’s growing energy needs. In addition, it opens a new and exciting chapter in our relationship with Sinopec, one that is very special and spans a number of different areas, and which we are excited about further growing and expanding into the 2050s.”
His Excellency Minister Al-Kaabi added: “This is the first long-term SPA from the NFE project to be announced, and marks the longest gas supply agreement in the history of the LNG industry.”
