22-03-2021
Qatar Petroleum signed today a long-term sale and purchase agreement with the China Oil and Chemical Corporation "Sinopec", according to which it supplies two million tons annually of liquefied natural gas to the People's Republic of China.
The agreement was signed by HE Eng. Saad bin Sherida Al Kaabi, Minister of State for Energy Affairs, Managing Director and CEO of Qatar Petroleum, and Mr. Zhang Yuzhuo, Chairman of Sinopec Group, during a contract signing ceremony via visual communication technology, in the presence of senior officials from both sides.
Under the agreement, deliveries of LNG will start in January 2022 to Sinopec LNG receiving terminals in China. This agreement reflects Qatar's continued commitment to meet the growing needs of its customers around the world and to provide reliable supplies of LNG.
Commenting on this occasion, His Excellency Eng. Saad bin Sherida Al Kaabi, Minister of State for Energy Affairs, Managing Director and CEO of Qatar Petroleum, said: “In a step that strengthens Qatar’s close relationship with the People's Republic of China, we are happy and proud to sign this historic sale and purchase agreement which constitutes the beginning of a long-term partnership with Sinopec. This long-term agreement is distinguished by being the first for Sinopec to purchase LNG from Qatar. Our partnership in the field of LNG with China dates back to 2009, when we started supplying it through a set of similar agreements with a number of our distinguished Chinese partners. Tis agreement will enhance the ability of the State of Qatar to meet China's growing energy needs, and we look forward to commencing deliveries under the agreement. ”
His Excellency Minister Al Kaabi concluded his statement by saying: "This agreement reflects the continuation of our leadership position in the market and the confidence of our customers around the world as the preferred partner to meet their LNG needs."
Sinopec Group Chairman Zhang Yuzhou said, “Sinopec has always been a strong advocate for cleaner and more environmentally conscious development. The signing of this long-term agreement with Qatar Petroleum is another step by Sinopec to fulfill its commitment to sustainability and to meet the growing needs of the Chinese market. We believe that achieving peak carbon emissions and carbon neutrality are responsibilities of the energy industry, and we are calling for transformation. We are proud to collaborate with Qatar Petroleum, one of the main suppliers in the industry, to provide China with cleaner energy. We are also pleased to embark on a new journey of more comprehensive cooperation with Qatar Petroleum in Next years."
On his part, Sheikh Khalid bin Khalifa Al Thani, CEO of Qatargas, said: “This historic agreement strengthens our current relationships with our Chinese customers. As the world's first LNG company, Qatargas is committed to meeting the clean energy needs of its customers around the world who rely on reliable LNG deliveries. "
Since the delivery of the first shipment of LNG in September 2009, Qatargas has so far supplied more than 62 million tons of LNG to China. China is a major and strategic partner for the State of Qatar in the field of energy through its various components, foremost of which is liquefied natural gas. China is also a major engine of growth in the LNG market, as the government adopts increasingly advanced environmental policies.