QatarEnergy has signed a definitive partnership agreement with China’s Sinopec for the North Field East (NFE) expansion project. QatarEnergy will transfer to Sinopec a 5% interest in the equivalent of one NFE liquefied natural gas (LNG) train with a capacity of 8 million tons per annum (MTPA). This agreement will not affect the participating interests of any of the other shareholders. The agreement makes Sinopec the first Asian buyer to take a stake in the project.
Commissioning of the Northern Gas Field Expansion Project is slated for 2026.
Cooperation with QatarEnergy will help improve safety, stability, and reliability in China’s supply of clean energy. In November 2022, Sinopec and QatarEnergy signed a long-term LNG purchase and sales agreement for the annual supply of four million tons of LNG to Sinopec.