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Thursday, December 8, 2022

Qatar announced that it will supply gas to China for 27 years

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This announcement takes place in a context in which several European countries are looking for alternatives to Russian hydrocarbons, but have not reached such an agreement with the gas-rich Gulf emirate.

The public company Qatar Energy will export four million tons of LNG each year from its new North Field project to Sinopec (China Petroleum and Chemical Corporation), said Saad Sherida Al Kaabi, Qatar’s energy minister, at a press conference.

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North Field is at the center of Qatar’s strategy to increase its LNG production by 60%, to reach 126 million tons per year by 2027. Asia—led by China, Japan, and South Korea—is the Qatar’s main gas market, increasingly coveted by European countries, since the Russian invasion of Ukraine.

But negotiations between European countries and Qatar are not easy. Germany and other nations have refused to sign agreements as lengthy as those between Qatar and Asian governments.

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Source: Ambito

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