2023-04-13 05:53:46 ET
- China Petroleum & Chemical ( OTCPK:SNPMF ) signed an equity participation agreement with QatarEnergy on April 12 to take 1.25% shares in Qatar's North Field East expansion project.
- The project is currently the largest Liquefied Natural Gas project in the world.
- The event marks another milestone after Sinopec and QatarEnergy inked a 27-year long-term LNG purchase and sales agreement in November 2022 for the annual supply of 4M tons of LNG to Sinopec and achieves integrated cooperation on the NFE expansion project.
- With a total investment of $28.75B, the NFE project is projected to increase Qatar's annual LNG export volume from 77M tons to 110M tons.
For further details see:
Sinopec buys 1.25% stake in Qatar's North Field East LNG expansion project