China made the biggest deal in world history with Qatar, ending the gas crisis forever! – न्यूज़लीड India

China made the biggest deal in world history with Qatar, ending the gas crisis forever!


Gas Agreement in Qatar and China

The scramble for LNG has intensified since Russia’s invasion of Ukraine in February and the threat of an energy crisis looms large in many European countries. Economic crisis is looming in countries like Germany and if Europe has to save itself from energy crisis, it will have to find alternative to LNG gas for at least 40 percent of its imports from another country, because European countries are unable to meet their needs. More than 40 percent gas is bought from Russia.

great deal for qatar

great deal for qatar

Meanwhile, QatarEnergy chief Saad al-Kaabi told Reuters news agency shortly before the Sinopec deal was signed that European companies looking to buy LNG need to see how Asian buyers are conducting their negotiations and how long How are you proceeding to deal for the duration. Al-Kaabi said, “This important agreement has been made under the First Sales and Purchase Agreement (SPA) for the North Field East project, under which China’s Sinopec will be supplied 100 million tonnes of gas for the coming 27 years.” And this agreement is a milestone between the two countries.

agreement till 2050

agreement till 2050

Al-Kaabi is very excited about this agreement with China and he said during the interview that, “This agreement with China proves that long-term deals can be done and for this the seller and buyer Both are here.” He added that, “The deal is the largest single sale and purchase agreement on record in the LNG sector.” Let us tell you that, the North field is part of the world’s largest gas field, which Qatar shares with Iran, and Qatar calls its part of the field South Pars. Earlier this year, QatarEnergy signed five agreements for North Field East (NFE), the first major deal in a two-phase North Field expansion plan, including six LNG trains, which will increase Qatar’s gas production capacity. from 77 million tonnes per annum to 126 million tonnes by the year 2027. Whereas, Qatar later signed agreements with three partners for the second phase of the expansion, North Field South (NFS).

and negotiating with buyers

and negotiating with buyers

Al-Kaabi said talks are underway with other buyers in China and Europe who want supply security. Qatar is already the world’s top LNG exporter, and its North Field Expansion Project will further strengthen its position and help guarantee Europe’s long-term supply of the gas. Europe is already looking for alternatives to wean away from Russian gas supplies. Al-Kaabi added that, “The recent volatility has led buyers to understand the importance of long-term supply, thereby reflecting the importance of long-term supply of gas at a reasonable price.”

A note to our visitors

By continuing to use this site, you are agreeing to our updated privacy policy.

%d bloggers like this: