QatarEnergy signed a partnership agreement with China Petrochemical Corp. (Sinopec) for the North Field South (NFS) expansion project as well as a 27-year agreement for delivery of 3 million tons/year (tpy) of LNG from the project to Sinopec’s receiving terminals in China.
Pursuant to the terms of the partnership agreement, QatarEnergy will transfer a 5% interest to Sinopec in a joint venture company that owns the equivalent of 6 million tpy of LNG production capacity in the NFS project.
QatarEnergy signed a similar agreement in April 2023 which marked Sinopec’s entry as a shareholder in one of the North Field East (NFE) joint venture companies that own the NFE project (OGJ Online, Apr. 12, 2023).