Qatargas, Shell and PetroChina Sign LNG Deal

LNG companies Qatargas, Shell and PetroChina have signed sales and purchase agreements to supply LNG from the state of Qatar to the rapidly growing Chinese market, it was announced today.

The deal will provide three million tonnes of LNG a year for 25 years, supplied from the Qatargas 4 project in Qatar and shipped to PetroChina's LNG receiving terminals, says Shell.

"The cleaner energy from LNG will contribute to fuelling China's fast and sustainable economic development," says PetroChina Chairman Jiang Jiemin.

The Qatargas 4 LNG project - currently under construction - is a partnership between Qatar Petroleum, which has a 70 percent stake, and Shell which owns 30 percent.

The agreement was signed today in Beijing by Deputy Prime Minister and Minister of Energy and Industry of Qatar, His Excellency Abdullah bin Hamad Al-Attiyah, PetroChina's Jiang Jiemin, and the Executive Director of Royal Dutch Shell Linda Cook.

By Ozge Ibrahim