QatarEnergy has signed a partnership agreement with China Petrochemical Corporation (Sinopec) for the North Field South (NFS) expansion project.
The two sides also signed a long-term sales and purchase agreement (SPA) for the delivery of 3 million tons per annum (MTPA) of LNG from the NFS project to Sinopec’s receiving terminals in China over a span of 27 years.
Pursuant to the terms of the partnership agreement, QatarEnergy will transfer a 5% interest to Sinopec in a joint venture company that owns the equivalent of 6 million tons per annum (MTPA) of LNG production capacity in the NFS project.
These historic milestones are a testament to the excellent bilateral relations between the People’s Republic of China and the State of Qatar as well as between Sinopec and QatarEnergy.
