BEIJING: State-owned Chinese firm Sinopec signed a new 27-year liquefied natural gas (LNG) supply and purchase agreement with Qatar­Energy, the two companies said on Saturday.

Under the agreement, the two companies will cooperate on the second phase of the Gulf Arab state’s North Field expansion project, which will supply 3 million tonnes of LNG per year to Sinopec.

An agreement was also signed under which QatarEnergy will transfer a 5pc interest to Sinopec in a joint venture company that owns the equivalent of 6 million tonnes per year of LNG production capacity in the North Field South project.

Published in Dawn, November 5th, 2023