Qatar signs deal to supply liquefied gas to China for 27 years
Qatar is one of the main producers of liquefied natural gas (LNG) in the world, along with the United States and Australia.
Here, a Qatari boat at the port of the city of Ras Laffan, in the north of the emirate.
PA
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Qatar announced Monday, November 21 a historic liquefied natural gas supply agreement with China, covering 27 years, the “
longest duration
” ever seen in the industry.
Demand for liquefied natural gas has skyrocketed since Russia invaded Ukraine.
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If nothing has filtered on the amount of the contract, we do know the volume that will be exported: according to this agreement, China will import 4 million tonnes of liquefied natural gas (LNG) per year to the public company Qatar Energy.
The gas will come from the offshore North Field,
the world's largest gas field
, which the gas-rich emirate shares with Iran.
The agreement extends over "
the longest duration in the history of the LNG industry
", welcomed at a press conference Saad Sherida Al-Kaabi, Qatari Minister of Energy and also Director General of Qatar Energy.
If China, Japan and South Korea are the main customers of Qatari gas, the emirate is increasingly courted by European countries, which are looking
for alternatives to Russian gas
.
Negotiations
are underway
, but they are difficult because the Europeans are reluctant to commit to long-term contracts.
The energy crisis situation, caused by the war in Ukraine, has boosted the demand for LNG in the world and is
benefiting Qatar
.
One of the world's largest exporters of LNG - along with the United States and Australia - the country wants to increase its production by more than 60% by 2027.
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To read also: Energy crisis: Europe forced to reinvent its sources of supply
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