Qatar Petroleum signs 15-year SPA to supply 3.5 MTPA of LNG to China’s CNOOC

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The SPA was signed during a virtual ceremony by His Excellency Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, President and CEO of Qatar Petroleum; and Wang Dongjin, the chairman of CNOOC
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Qatar Petroleum has entered into a long-term sale and purchase agreement (SPA) with CNOOC Gas and Power Trading & Marketing Ltd, a subsidiary of China National Offshore Oil Corporation (CNOOC), for supplying 3.5 million tons per annum (MTPA) of LNG over a 15-year period starting January 2022, the company announced on its website on Wednesday.

The SPA was signed during a virtual ceremony by His Excellency Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, President and CEO of Qatar Petroleum; and Wang Dongjin, the chairman of CNOOC.

Commenting on the signing of the deal, Al-Kaabi said, “We are pleased to further build upon our strong relationship with CNOOC with the signing of this new long-term LNG supply agreement. We are especially proud to continue to meet the People’s Republic of China’s growing need for cleaner energy that LNG provides, and are thankful to CNOOC for partnering with us as their trusted LNG supplier.”

He concluded his remarks by thanking Sheikh Khalid bin Khalifa Al Thani, the CEO of Qatargas, and the teams from both sides for the successful conclusion of this new long-term LNG supply agreement with CNOOC.

Qatar’s relationship with CNOOC dates back to September 2009 when the first LNG cargo was delivered to CNOOC in China.

As of August 2021, Qatar has delivered a total of 715 LNG cargoes to China, of which 270 cargoes (more than 24 million tons of LNG) were delivered to CNOOC.

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