Doha announced on Tuesday that QatarEnergy has signed a LNG supply deal with the China National Petroleum Corporation (CNPC). This agreement marks a significant shift toward China and its allies in the race to secure resources from Qatar’s recent expansion projects. CNPC’s agreement with QatarEnergy establishes that China will purchase 4 million metric tons of liquefied natural gas (LNG) per year for 27 years.
CNPC has also established an equity stake in Qatar’s North Field LNG project. This deal is identical to an agreement signed between QatarEnergy and China’s Sinopec last November. These two agreements are part of a larger trade strategy where Asia has outpaced Europe in securing energy supply from Qatar. Doha’s two-phase expansion plan will raise the country’s liquefaction capacity from 77 million metric tons per year to 126 by 2027. The CNPC deal marks the third LNG agreement between QatarEnergy and an Asian customer.
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