According to Agence France-Presse, Qatar Energy Minister Saad Sherida AlKaabi said at a press conference on the 21st that the country’s state-run energy company Qatar Energy will transfer its new North East oil field project to Sinopec (Sinopec) every year. ) to export 4 million tons of liquefied natural gas. And this will also be Qatar’s “longest in the history of the LNG industry” supply agreement, and the partnership will last until 2050.
Qatar is currently one of the world‘s leading producers of liquefied natural gas (LNG), on par with the United States and Australia. Offshore North Field East is the world‘s largest gas field, shared by Qatar with Iran.
Earlier this year, Qatar Energy signed five deals for Beitian East, including six LNG trains. The goal is to increase the country’s LNG production by more than 60% by 2027, taking supply from 77 million tons per year to 126 million tons.
The company then signed contracts with three partners for North Field South as part of the second phase of the expansion.
Sinopec confirmed that this transaction is the first supply transaction for the Beitiandong project. Petrochemical Chairman Ma Yongsheng participated in the signing ceremony through video conference in Beijing that day.
Ma Yongsheng also revealed that in October last year he had formally proposed to the Ministry of Energy of Qatar to obtain a stake in Beitiannan’s expansion plan.
The 25% foreign stake in Beitian South is currently owned by Western giants such as France’s TotalEnergies, Britain’s Shell, and America’s ConocoPhillips.
Asia has so far been the main buyer of Qatari gas, led by China, Japan and South Korea. Since the Russo-Ukrainian war, European countries also plan to import natural gas from the country, but negotiations have progressed slowly. Germany, in particular, refuses to sign decades-long agreements like Qatar’s with Asian countries.
“I think the recent volatility has pushed buyers to understand the importance of having long-term supply,” said Kirby, who also said he was in talks with several investors for stakes in the expansion project in the Gulf state.
According to another report, Qatar, as the host, had a bad start in the World Cup. In the first group match of Group A, they lost to Ecuador, the “high altitude killer” in South America, and finally lost 0 to 2. The first team in the history of the World Cup was defeated the home team.
There are also many controversies outside the stadium. In addition to the issue of alcohol prohibition, Western human rights organizations also criticized Qatar for exploiting labor rights. The rights and interests of foreign laborers are controversial, and there are often industrial accidents and fatalities.