Taiwan signs agreement with QatarEnergy

Taiwan’s national oil company, CPC, has signed a long-term liquefied natural gas (LNG) supply deal with QatarEnergy that also gives Taipei equity in the North Field East LNG expansion project slated to come on stream in 2026.

The parties signed an LNG sales and purchase agreement for delivery to CPC of 4 mtpa of LNG from the North Field East (NFE) over 27 years, QatarEnergy announced recently. Qatar has been a top LNG supplier for decades to Taiwan, which imports 99% of its gas.

QatarEnergy also agreed to transfer to CPC Taiwan a 5% interest in the equivalent of one NFE train with a capacity of 8 mtpa without affecting the participating interests of any of the other shareholders, among them Shell, TotalEnergies, Eni, ExxonMobil, and ConocoPhillips.

Taiwan’s terms are identical to those agreed with QatarEnergy’s two other Asian partners in the NFE—China’s Sinopec and CNPC.

Qatar’s NFE project is part of its overall North Field LNG expansion program that also includes the North Field South and North Field West projects, which, together, will raise Qatar’s LNG production capacity to 142 mpta by 2030 from its current 77 mtpa.

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