QATAR CHINA GAS DEAL
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Context: QatarEnergy announced a 27-year natural gas supply deal with, calling it the “longest” ever seen as it strengthened ties with Asia at a time when Europe is scrambling for alternative sources.
- The state energy company will send four million tonnes of liquefied natural gas annually from its new North Field East project to China Petroleum and Chemical Corporation (Sinopec),.
- Asian countries led by China, Japan and South Korea are the main market for Qatar’s gas, which is increasingly being sought by European countries since Russia’s invasion of Ukraine.
- North Field is at the centre of Qatar’s expansion of its liquefied natural gas production by more than 60% to 126 million tonnes a year by 2027.
- China is the first country to seal a deal for North Field East.
- The accord would “further solidify the excellent bilateral relations between the China and the State of Qatar and help meet China’s growing energy needs”.