Sinopec signs long-term LNG deal with Qatar Petroleum

China Petroleum & Chemical Corporation signed a long-term purchase and sales agreement with Qatar Petroleum to purchase 2 million tons of LNG  every year for a term of 10 years.

Zhang Yuzhuo, Chairman of Sinopec, noted the long-term LNG contract with Qatar Petroleum is a first in the company's history and of significant importance:

Saad Sherida Al-Kaabi, Minister of State for Energy Affairs of the State of Qatar, the president and CEO of Qatar Petroleum, expressed that signing the first long-term LNG contract with Sinopec has further consolidated the sound bilateral relations between the two countries, as well as the beginning of establishing a long-term, fruitful cooperative relationship between Qatar Petroleum and Sinopec.

China and Qatar's cooperation in the energy sector started in 2009, and this cooperation will further enhance Qatar's ability to supply the Chinese market to meet growing demand as well as highlighting Qatar Petroleum's leading position in the industry.

China is a key and strategic energy partner for the State of Qatar throughout the entire energy value chain having supplied 62 million tons of LNG to China since 2009. With the government introducing a series of environmental protection measures, China's LNG market will maintain steady growth in the future, bringing broad prospects for cooperation between both parties.

Qatar Petroleum is the national oil corporation of Qatar, established in November 1974. It is responsible for the development of the oil and gas industry in the State of Qatar and its main businesses include oil and gas exploration and development.