Qatar has emerged as an important and reliable partner for countries across the globe in providing clean energy. This was evident when Qatar Petroleum yesterday entered into a 10-year LNG Sale and Purchase Agreement with China Petroleum & Chemical Corporation (Sinopec) for the supply of 2 million tons per annum (MTPA) of LNG to the People’s Republic of China. The SPA further demonstrates Qatar’s continued commitment to meeting the growing energy demand of its customers globally in the form of reliable long term LNG supplies.
H E Saad Sherida Al Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, said that the SPA will further supplement Qatar’s contribution in meeting China’s growing energy needs. Under the agreement, LNG deliveries will commence in January 2022, and will be delivered to Sinopec’s LNG terminals in China. Since the first LNG delivery in September 2009 to date, Qatar has supplied China with more than 62 million tons of LNG. China is a key and strategic energy partner for Qatar throughout the entire energy value chain.
On February 26, QP entered into a new long-term SPA with Pakistan State Oil Company Limited (PSO) for the supply of up to 3 MTPA of LNG to the Islamic Republic of Pakistan. Under the 10-year agreement, LNG deliveries to Pakistan’s world-class receiving terminals will commence in 2022 and continue until the end of 2031.
The agreement raises the total of long-term LNG supplies from Qatar to Pakistan to 6.75 MTPA. Prior to that, QP entered into a long term SPA with Vitol for the supply of 1.25 MTPA of LNG to Vitol’s final customers in Bangladesh.
Qatar is going ahead with its plans to expand the production of gas. Early last month, QP signed a deal for developing its $28.75bn North Field East Project (NFE), which is the world’s largest LNG project. The expansion will raise Qatar’s LNG production capacity from 77 MTPA to 110 MTPA. The NFE project represents the first phase of LNG expansion, while the second phase, is referred as the North Field South Project. In the second phase Qatar’s LNG production capacity will increase from 110 MTPA to 126 MTPA by 2027.
According to a report released by Gas Exporting Countries Forum recently, Qatar is expected to retain its position as the world’s largest LNG exporter by 2050. Qatar has launched many steps to produce energy in an environment-friendly manner. These moves are a clear demonstration of the unwavering commitment by Qatar to supply the world with the clean energy it needs.
