SINGAPORE/LONDON :China National Petroleum Corp (CNPC) is close to finalising a deal to buy liquefied natural gas (LNG) from QatarEnergy over nearly 30 years from the Middle Eastern exporter's massive North Field expansion project, three people with knowledge of the matter said. If sealed, this would be the
SINGAPORE/LONDON :China National Petroleum Corp is close to finalising a deal to buy liquefied natural gas from QatarEnergy over nearly 30 years from the Middle Eastern exporter's massive North Field expansion project, three people with knowledge of the matter said.
"CNPC has agreed on the major terms with Qatar in a deal that will be very similar to Sinopec's," said a Beijing-based state-oil official who declined to be named as he is not authorised to speak to the media."This is a good move for CNPC, securing additional long term supply from a reliable and well positioned partner.
QatarEnergy has maintained a 75 per cent stake overall in the North Field expansion, that will cost at least $30 billion, and could give up to a 5 per cent stake to some buyers, QatarEnergy Chief Executive Officer Saad al-Kaabi has said. Chinese customs data showed the country's imports of Qatari LNG surged 75 per cent last year from 2021 to 15.7 million tonnes, making up a quarter of the nation's total imports, while China's total LNG imports shrank nearly 20 per cent.
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