According to Sinopec’s news on the 4th, during the Sixth China International Import Expo, Sinopec and Qatar Energy Company signed an integrated cooperation agreement for the second phase of the Northern Gas Field Expansion Project (NFS), including a 27-year long-term liquefied natural gas (LNG) Purchase and sale agreement and upstream equity participation agreement.
According to the agreement, Qatar Energy will supply 3 million tons of LNG to Sinopec every year and transfer 5% of its equity in the joint venture to Sinopec (equivalent to 1.875% of the NFS project). The signing ceremony was held at the Sinopec Theme Forum of the Sixth China International Import Expo held that day.
Ma Yongsheng, chairman of Sinopec, said that this cooperation is another fruitful result in implementing the spirit of the meeting between the two heads of state and promoting the strategic alignment between the joint construction of the “Belt and Road” initiative and Qatar’s “2030 National Vision”. Qatar Energy is the world’s leading LNG producer. Cooperation with Qatar Energy will help further optimize China’s energy consumption structure, build a new energy system, and help China achieve its “double carbon” goal.
Khaabi, Qatar’s Minister of State for Energy Affairs and President and CEO of Qatar Energy, said that the two parties have a good foundation for cooperation and look forward to more cooperation in the energy field in the future.
Qatar is one of the world’s leading exporters of liquefied natural gas. The northern gas field expansion project is currently the world’s largest new liquefied natural gas project. The second phase of the northern gas field expansion project will build two new LNG production lines with an annual production capacity of 16 million tons.
Sinopec and Qatar Energy Company have a good foundation for cooperation. This is the third long-term LNG purchase and sale agreement signed by the two parties, and also the second integrated cooperation project reached by the two parties after the first phase of the northern gas field expansion project. (over)
(Source of article: China News Network)
Article source: China News Network
Original title: (Sixth China International Import Expo) Sinopec and Qatar Energy Company signed another major cooperation agreement
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2023-11-04 15:01:25
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