Qatar Petroleum pens LNG supply deal with Sinopec

Qatar Petroleum has put pen to paper on a 10-year LNG sale and purchase agreement (SPA) with China Petroleum & Chemical Corporation (Sinopec).

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.

Commenting on this occasion, Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, said that this agreement will be Sinopec’s first long-term LNG SPA from Qatar.

Zhang Yuzhuo, Chairman of Sinopec Group, added that the signing of the long-term LNG SPA with Qatar Petroleum is a further step by Sinopec to deliver its commitment to sustainability while meeting the growing needs of the Chinese market.

Since the first LNG delivery in September 2009 to date, Qatar has supplied China with more than 62 million tons of LNG.