Qatar Petroleum has entered into a 10-year liquified natural gas Sale and Purchase Agreement (SPA) with China Petroleum & Chemical Corporation (Sinopec) for the supply of 2 million tonnes per annum (Mtpa) of LNG to the People’s Republic of China.

The SPA was signed on 22 March by His Excellency Saad Sherida Al-Kaabi, the Minister for Energy Affairs and President and CEO of Qatar Petroleum and Zhang Yuzhuo, the Chairman of Sinopec Group, during a virtual ceremony attended by senior officials from both sides.

Under the agreement, LNG deliveries will commence in January 2022 and will be delivered to Sinopec’s LNG terminals in China.

Mr Yuzhuo noted the long-term LNG contract with Qatar Petroleum is a first in the company’s history and one of significant importance.

“We look forward to further cooperation with Qatar Petroleum in the future. Sinopec has always advocated for the development of green and clean energy and the long-term LNG supply agreement will not only meet the needs of the Chinese market but will also demonstrate Sinopec’s commitment to a low-carbon, green, safe, responsible and sustainable development path,” he remarked.

“We firmly believe that it’s the responsibility of the entire industry and every company to reach peak carbon emissions and achieve carbon neutral, which is needed for the industry’s transformation and development.”

Mr Al-Kaabi expressed that signing the first long-term LNG contract with Sinopec has further consolidated the sound bilateral relations between the two countries, as well as the beginning of establishing a long-term, fruitful cooperative relationship between Qatar Petroleum and Sinopec.