Qatar Petroleum entered into a 10-year SPA deal with China’s Sinopec for the supply of 2 million tons per annum (MTPA) of LNG.
Qatar , Qatar
24 March 2021, 12:00 AM
31 March 2021, 12:00 AM
Qatar Petroleum on Monday entered into a 10-year LNG Sale and Purchase Agreement (SPA) with China Petroleum & Chemical Corporation (Sinopec) for the supply LNG to China.
The company said in its statement on Monday the deal is for the supply of 2 million tons per annum (mtpa) of LNG to China.
Under the agreement, LNG deliveries will commence in January 2022, and will be delivered to Sinopec’s LNG terminals in China, Qatar Petroleum said.
The SPA was signed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, and Mr. Zhang Yuzhuo, the Chairman of Sinopec Group, during a virtual ceremony attended by senior officials from both sides.
Commenting on this occasion, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, said, “In a step that will further solidify the excellent bilateral relations between the People’s Republic of China and the State of Qatar, we are delighted to enter into this historic long term LNG SPA. We are also proud of the fact that this agreement will be Sinopec’s first long term LNG SPA from Qatar. This SPA will further supplement Qatar’s contribution in meeting China's growing energy needs and we look forward to commencing deliveries under the agreement."
Mr. Zhang Yuzhuo, Chairman of Sinopec Group, said, “We are proud to team up with Qatar Petroleum, one of the premier suppliers in the industry, to supply cleaner energy to China. We are also excited to begin a new journey of more comprehensive cooperation with Qatar Petroleum in the years to come.”