QatarEnergy Chief Saad al Kaabi stated to Reuters Monday that the company signed a 27Purchase and sales agreement for a year China’s Sinopec, the longest in the history of liquefied natural gas (LNG) deals.

“Today is an important milestone for the first sales and purchase agreement for North Field East project, it is 4 million tonnes for 27 years to Sinopec of China,” Kaabi stated this in Doha, just before the signing of The Agreement. deal.

“It signifies long-term deals are here and important for both seller and buyer,” He said.

The North Field is part of the world’s biggest gas Field that Qatar shares in Iran’s, which is called South Pars.

QatarEnergy Signed contracts earlier this year for North Field EastThe larger and first phase of the 2-phase. North Field expansion plan, which includes six LNG trains that will ramp up Qatar’s liquefaction capacity to From 77 million, 126 million tonnes annually by 2027

It signed later contracts with its partners for North Field South is the second phase.

“We are very happy about this deal with Sinopec because we have had a long-term relationship in the past and this takes our relationship to new heights as we have an SPA that will last into the 2050s,” Kaabi stated.

Kaabi indicated that negotiations are underway with other buyers China Europe, and worldwide that they want to Have security supply were ongoing.

“I think the recent volatility has driven buyers to understand the importance of having long-term supply,” He said.

Kaabi also stated that negotiations should be continued for an equity stake in the Gulf country’s expansion project were ongoing with several entities.

QatarEnergy It could be sold and retain a 75% share in the overall expansion. to 5% of the stake to Some buyers

According to sources, Reuters reported in June from sources that China’s national oil majors were in advanced talks with Qatar to Invest in North Field East.