China has signed an agreement with Qatar to supply millions of tons of liquefied natural gas (LNG). The agreement is valid for 27 years and is worth about 60 billion dollars (58.5 billion euros). There is a rush on gas because many countries, including the Netherlands, see it as a good substitute for Russian gas.
Until recently, Europe in particular was heavily dependent on natural gas from Russia. But due to the Russian attack on Ukraine, European countries want to get rid of it and are looking for alternatives, including LNG.
Qatar is one of the largest suppliers of liquefied natural gas and already supplies a lot to Europe. But the Chinese are also plundering it.
The Chinese state-owned company Sinopec has therefore now concluded a deal with Qatar Energy. The deal means Qatar will supply a total of 4 million tonnes of liquefied natural gas over 27 years, starting in 2026. Qatar Energy also says it is currently in talks with other interested parties, including from Europe.
The gas comes from the North Field field, in which Shell and ExxonMobil have also invested.
