Qatar Petroleum signs 15-year supply-deal for 3.5MTPA of LNG to CNOOC

Qatar Petroleum has forged a long-term sale and purchase agreement (SPA) with CNOOC Gas and Power Trading & Marketing, a subsidiary of China National Offshore Oil Corporation (CNOOC), for supplying 3.5 million tons per annum (MTPA) of liquefied natural gas (LNG).

The SPA is for a 15-year period, that will come into effect from January 2022.

It was signed during a virtual ceremony by Qatar‘s Minister of State for Energy Affairs Saad Sherida Al-Kaabi, who is also the President and CEO of Qatar Petroleum, and CNOOC Chairman Wang Dongjin.

Qatar Petroleum signs 15-year supply-deal for 3.5MTPA of LNG to CNOOC. Photo courtesy of Qatar Petroleum.

Saad Sherida Al-Kaabi said: “We are pleased to further build upon our strong relationship with CNOOC with the signing of this new long-term LNG supply agreement. We are especially proud to continue to meet the People’s Republic of China’s growing need for cleaner energy that LNG provides, and are thankful to CNOOC for partnering with us as their trusted LNG supplier.”

Qatar had been delivering LNG to CNOOC since 2009. As of August 2021, Qatar is said to have supplied a total of 715 LNG cargoes to China, of which 270 cargoes, carrying over 24 million tons of LNG, were supplied to CNOOC.​