Minister of State for Energy Affairs and the President and CEO of QatarEnergy H E Saad Sherida Al Kaabi and the Chairman of CNPC, Dai Houliang during the signing ceremony
Doha: QatarEnergy signed two partnership deals yesterday with China National Petroleum Corporation (CNPC), one of the world’s largest integrated energy firms.
The agreements include a 27-year LNG Sales and Purchase Agreement (SPA) in order to deliver 4 million tons of LNG per annum, and a pact on LNG SPA under which QatarEnergy will transfer a 5 percent interest in the equivalent of one North Field East LNG expansion project (NFE) train having a capacity of 8 million tons per annum.
The Minister of State for Energy Affairs and the President and CEO of QatarEnergy H E Saad Sherida Al Kaabi and the Chairman of CNPC, Dai Houliang signed the partnership deal at the QatarEnergy headquarters in the presence of several senior executives and officials from both sides.
Commenting on the significant long-term deal, Minister Al Kaabi said: “This makes it the second LNG energy supply to China to be announced in the second of the two longest energy supply agreements in the. History of our energy industry.”
Minister Al Kaabi further added “We’re pleased to embark on this partnership with CNPC and to build on the excellent relations between the People’s Republic of China and the State of Qatar. These agreements demonstrate our unwavering commitment to our customers and partners and our shared ambition for a sustainable future facilitated by a cleaner and more eco-friendly energy source that would catalyze substantial socio-economic development.”
The CNPC official praised Qatar’s efforts for maintaining a resilient partnership with the two countries and the organisations.
Houliang said “This Project represents a major achievement and excellent practice of both CNPC and QatarEnergy, in delivering on the strategic consensus of the two state leaders. Houliang stated the long-term deal is a “solid foundation” for the energy sector between Qatar and China, which will be operated in the next three decades.
He also said that “Our two countries are highly complementary regarding energy cooperation with bright prospects. Going forward from this brand new starting point simply will continue to actively discuss with QatarEnergy all-around cooperation across the hydrocarbon industry chain and other areas like green and low carbon energies, to build a stable long-term and multi-dimensional strategic partnership.
“CNPC will bring proprietary technologies and unique experiences gained over the years in developing its assets. To fully support the efficient operation of NFE, I believe we will create greater added value to our cooperation and make new contributions to enriching the Qatari strategic partnership,” he added.
