The Strategist

Qatar signs LNG supply deal with China


09/30/2021 - 08:03



Qatar's state-owned oil and gas company Qatar Petroleum has signed a 15-year agreement with China National Offshore Oil Corporation (CNOOC) to supply 3.5 million tonnes of natural gas (LNG) per year, Qatar Petroleum said.



"Qatar Petroleum has entered into a long-term purchase and sale agreement with CNOOC Gas and Power Trading & Marketing Limited, a subsidiary of China National Offshore Oil Corporation (CNOOC), to supply 3.5 million tonnes of LNG per year for 15 years from January 2022," the company said in a statement.

It was noted that Qatar Petroleum's first LNG shipment was delivered to the Chinese company in September 2009. As of August 2021, Qatar had shipped about 715 LNG cargo ships to China, of which 270 (or more than 24 million tonnes of LNG) were delivered by CNOOC.

Qatar Petroleum controls all components of Qatar's oil sector, including exploration, production, refining, transportation and storage; investing in LNG and renewable energy sources such as solar energy. Qatar is the world's leading producer of LNG.

CNOOC is China's third largest national oil company after CNPC and Sinopec. It was founded in 1982 and is headquartered in Beijing. CNOOC produces, refines and markets oil and natural gas offshore China.

source: reuters.com




More
< >

Thursday, December 2nd 2021 - 05:22 Bank of America gives oil price forecast for 2022