On November 21, 2022, Qatar National Energy Corporation announced that it had reached a 27 year long-term purchase and sale agreement for LNG with China. Sinopec also released the news on the same day. Saad Sheridah Alkabi, Minister of Energy Affairs and President of Qatar Petroleum, said that the agreement "marks the longest natural gas supply agreement in the history of LNG industry".

Sinopec also released the above information on the same day, and said that the agreement is an important part of the integrated cooperation between the two sides on the expansion project of Qatar North Gas Field, which is of milestone significance.

Ma Yongsheng, Chairman of Sinopec, and Alkabi, Minister of Energy Affairs and President of Qatar Petroleum jointly signed the agreement online

It is reported that this agreement is an important part of the integrated cooperation between the two sides on the capacity expansion project of Qatar North Gas Field, which is of milestone significance. The North Gas Field Expansion Project is expected to be put into production in 2026. This agreement is the second LNG long-term purchase and sale agreement signed by Sinopec and Qatar Energy Corporation, and also the first LNG long-term purchase and sale agreement for the capacity expansion project of Qatar North Gas Field.

Saad Sherida Al Kaabi, Minister of State for Energy Affairs of Qatar and President and CEO of Qatar Energy Corporation, said he was glad that the two sides could reach this agreement, which would further consolidate the good bilateral relationship between China and Qatar and help meet China's growing demand for clean energy.

Data shows that Qatar has a relatively single variety of natural resources, mainly including oil, natural gas and associated resources. Qatar is rich in oil and gas resources. According to the data on the website of the Ministry of Foreign Affairs of Qatar, Qatar ranks third in the world in terms of natural gas reserves, after Russia and Iran. It is mainly concentrated in the northern gas field of Qatar, which is the largest single gas field in the world. Its area is half of the territory of Qatar. The proven reserves exceed 900 trillion cubic feet (about 25.49 trillion cubic meters), accounting for about 20% of the global share.Editor/Ma Xue