Home World Qatar signed a contract to supply gas to China for a period of 27 years

Qatar signed a contract to supply gas to China for a period of 27 years

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The agreement is the longest in the history of the industry and will enter into force in 2026.

YURI KOCHETKOV/EPA

The agreement is the longest in the history of the industry and will enter into force in 2026.

YURI KOCHETKOV/EPA

Qatar announced on Monday that it has signed a 27-year sale and purchase agreement for four million tons of liquefied natural gas (LNG) with China, state-run QNA news agency reported.

Qatar Energy, an oil and gas company, has signed a sale and purchase agreement with China Petroleum and Chemical Corporation (Sinopec) supply four million tons of liquefied natural gas per year”, Energy Minister Saad Al Kaabi said at a press conference quoted by the agency.

This is considered the longest contract in the history of the LPG industry, the minister said, noting that “the agreement opens a new chapter in relations with Sinopec Corporation.”

The agreement will enter into force in 2026, but by March 2021, Qatar Energy had already entered into a similar agreement with Sinopec to supply two million tons of LNG per year to China for a period of 10 years, which was the longest contract at that time.

Qatar is one of the countries with the largest natural gas reserves in the world.

Source: Observador

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