Sinopec will be receiving gas sourced from QatarEnergy’s North Filed East (NFE).
"This is the first long-term SPA from the NFE project to be announced, and marks the longest gas supply agreement in the history of the LNG industry," QatarEnergy President and CEO Saad Sherida Al-Kaabi, who is also the country's minister of state for energy affairs, said in a statement released by the company.
Currently, Qatar is actively developing its gas deposits in the Persian Gulf. Two of these projects, North Field East and North Field South, are scheduled to be finished in 2026 and 2027. It is expected that thanks to these projects Qatar will increase its LNG production from 77 million to 110 million tons per year by 2026. Asia is the main region for Qatar's gas exports.