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