Qatar signs 15-year deal to sell China 3.5 mil mt/yr LNG

Qatar Petroleum said Sept. 29 that it had reached an agreement to supply 3.5 million mt/year of LNG to China over 15 years, starting January 2022. The long-term sale and purchase agreement is with CNOOC Gas and Power Trading & Marketing Ltd., a subsidiary of China National Offshore Oil Corp. This comes at a time when buyers are hesitant to commit to new long-term investments in LNG supply, in part due to price volatility. Qatar made its first LNG shipment to CNOOC in September 2009 and as of August 2021, Qatar has delivered 715 LNG cargoes to China.