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DOHA: Qatar’s state energy company announced a 27-year natural gas supply accord with China on Monday, saying it was the longest ever seen in the industry.

QatarEnergy will send four million tonnes of liquefied natural gas annually from its new North Field East project to China Petroleum and Chemical Corporation (Sinopec), the company said.

The deal “marks the longest gas supply agreement in the history of the LNG industry”, said Saad Sherida Al-Kaabi, Qatar’s energy minister and QatarEnergy’s chief executive.

US natural gas drops

The Chinese company’s chairman revealed that it had also requested a full share of the North Field South project that is dominated by Western energy giants.

North Field is at the centre of Qatar’s expansion of its liquefied natural gas production by more than 60 percent to 126 million tonnes a year by 2027.

Asian countries led by China, Japan and South Korea are the main market for Qatar’s gas, which is increasingly being sought by European countries since Russia’s invasion of Ukraine.

Negotiations with European countries have struggled as Germany and others have baulked at signing the sort of long-term deals made with Asian nations.

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SAMIR SARDANA Nov 21, 2022 09:23pm
IT IS A PART OF THE NORTH FIELD DEAL,WHERE PRC HAS A STAKE - SO THE LONG TERM CONTRACT IS, A PAAT OF THE DEAL STRUCTURE , IT IS A PRICE AND SUPPLY RISK HEDGE FOR SUPPLIES FROM AUSSIE AND US TO PRC - WHO ARE CHINA'S ENEMIES NO 1 AND 2. - AND PUTIN GAS LOOKS RISKY TO PRC EVEN IN 2022,QATARGAS HAD SIGNED A 222 YEAR GAS DEAL WITH CHINA. - SO THIS IS NOT NEW ! QATAR IS ISOLATED IN GCC BY UAE/SAUDIA ETC - SO THIS IS A MESSAGE ! UAE + SAUDIA = US CAMP PRC HAS ALSO SET UP THE 1ST REMIMBI CLEARING CENTRE IN MIDDLE EAST, IN DOHA. SIGN OF GAS AND OIL TRADES WITH PRC IN REMIMIBI AND NOT USD ! CHINESE FUNDED HAMAD PORT HAS OPERATIONALISED ! THIS DEAL IS THE KEY MESSAGE TO THE US ! QATAR NEEDS MONEY AND TECH EXPERTISE ! WITH PUTIN WAR - PRC NEEDS QATAR OIL AND GAS ! WIN- WIN ! IF PRC BETS BIG ON QATARI INFRA AND FINANCIAL SERVICES - THEN "IT IS POSSIBLE" THAT QATAR COULD EDGE OUT UAE, IN THE CHINESE SUPPLY CHAIN, AND VALUE CHAIN BUSINESSES ! THAT WILL BE TECTONIC ! dindooohindoo
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Abdullah Nov 21, 2022 10:11pm
@SAMIR SARDANA, qatar edhmging out UAE is a joke as they are still way behind uae.They dont even have the human resources which dubai is attracting.Pribably after 20 yearr yes qatar would be somewhat close to dubai.
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