Qatar gives China share of landmark natural gas field

Qatar Energy stall at an exhibition on 7 December 2021 [Brandon Bell/Getty Images]

Chinese oil giant, Sinopec, on Wednesday became the first Asian firm to get a stake in Qatar’s expansion of North Field East, the Gulf country’s energy company announced.

QatarEnergy said Sinopec will get a five per cent stake in the equivalent of an eight-million-tonne production complex.

QatarEnergy chief, Saad Sherida Al-Kaabi, Qatar’s Energy Minister, called it a “milestone agreement” and a new “landmark” for relations between the two countries.

“Today’s event underscores QatarEnergy’s commitment to deepening its relationships with key LNG consumers, while prioritising long-term strategic partnerships and alignment with world class partners from China, represented by Sinopec here today,” Al-Kaabi said in a QatarEnergy statement.

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