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Qatargas inks 22-year LNG supply deal with PetroChina International

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Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Qatargas inks 22-year LNG supply deal with PetroChina International

Qatargas Co. Ltd. has inked a 22-year deal with PetroChina International Co., Ltd., a subsidiary of PetroChina Co. Ltd., to supply China with around 3.4 million tonnes of LNG per year.

Qatargas will supply LNG from the Qatargas 2 project, a joint venture between Qatar Petroleum, Exxon Mobil Corp. and TOTAL SA, to different receiving terminals across China. The first cargo is slated for delivery at the end of September.

The agreement provides flexibility in delivering the LNG to various terminals, including Dalian, Jiangsu, Tangshan and Shenzhen.

Chinese gas consumption grew by 15% in 2017, with LNG imports increasing by more than 40% that same year, as the country tries to curb air pollution from coal combustion.

Qatargas is the world's largest LNG producer with an annual production capacity of 77 million tonnes.