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Free AccessSinopec Agree to Buy Stake in Qatar LNG Project
Sinopec has agreed to buy a stake in the Qatar North Field East LNG project according to Qatar Energy Chief Executive Officer Saad Al-Kaabi on Wednesday.
- Sinopec will join ConocoPhillips, Shell, TotalEnergies, Exxon Mobil and Eni by taking a 5% stake in a train with a processing capacity of 8mtpa.
- The North Field LNG project is expected to increase export capacity to 110mtpa from 77mtpa. The facility is scheduled to send out its first shipment in 2026.
- Cooperation with QatarEnergy will help “optimize China’s energy consumption structure and enhance the security, stability and reliability of clean energy supply,” said Sinopec Chairman Ma Yongshen.
- Global competition for LNG supplies is driving interest in long term LNG contracts with Asia more willing than Europe to lock in the fuel supplies on multi year contracts.
To read the full story
Sign up now for free trial access to this content.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.