QP pens deal for LNG supply to Sinopec
Qatar Petroleum (QP) has reached a deal with Sinopec to supply 2mn metric tons/year of LNG to China over a 10-year period, the Qatari exporter reported on March 22.
Deliveries under the sales and purchase agreement (SPA) will start in January 2022 and will be made to Sinopec's LNG terminals in China. QP CEO and Qatari energy minister Saad Sherida al-Kaabi noted that the deal marked Sinopec's first long-term contract for the kingdom's gas, although the Chinese firm has been importing Qatari LNG on a shorter-term basis since 2009.
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"This SPA also illustrates our position in the market as a reliable and trustworthy LNG supplier, and we are grateful to all our customers around the world who select us as their LNG supplier of choice," al-Kaabi said.
Qatar, which has embarked on a $28.8bn expansion at its North Field LNG megaproject, recently agreed new long-term contracts for supply to Bangladesh and Pakistan.
(banner image courtesy of Qatar Petroleum)