China will buy 4 million metric tonnes of LNG from the Gulf Arab nation per year. Credit: Venti Views on Unsplash.

QatarEnergy has secured a large liquefied natural gas (LNG) supply deal from China National Petroleum Corporation (CNPC).

The Chinese government-backed company CNPC and the Qatar-based gas exporter have signed a 27-year deal. According to the agreement, China will buy 4 million metric tonnes of LNG from the Gulf Arab nation per year.

Related Company Profiles

View all

The deal is second between QatarEnergy and China within a year.

The agreement will also see CNPC acquire an equity stake in the eastern extension of Qatar’s North Field LNG project, which is expected to increase Qatar’s production capacity by 43% from 77 million tonnes per annum (mtpa) to 110mtpa.

The stake is equal to 5% of one LNG train with an annual capacity of 8mtpa, the company said.

See Also:

Qatar Energy Minister Saad al-Kaabi said: “We are pleased to embark on this partnership with CNPC and to build on the excellent relations between the People’s Republic of China and the State of Qatar.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“These agreements demonstrate our unwavering commitment to our customers and partners and to our shared ambition for a sustainable future facilitated by a cleaner, and more eco-friendly energy source that would catalyse substantial socio-economic development.”

Similar to this agreement, QatarEnergy signed a 27-year supply contract for 4 million tonnes annually with Sinopec in November 2022.

Citing al-Kaabi, the Financial Times reported that before the end of 2023, Qatar is expected to sign long-term supply agreements with “several European countries”.

al-Kaabi added that QatarEnergy was close to signing deals with the UK, France and Italy.