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

Qatar Petroleum announced today the company has entered into a long-term sale and purchase agreement with CNOOC Gas and Power Trading & Marketing Limited, a subsidiary of China National Offshore Oil Corporation (CNOOC), for the supply of 3.5 million tons per annum (MTPA) of LNG over a 15-year period starting January 2022.

Qatar Petroleum’s first delivery of LNG to CNOOC was in September 2009.  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.​

In February of this year a final investment decision was made for developing the North Field East Project which will raise Qatar's production capacity from 77 million tons per annum (MMTPA) to 110 MMTPA.  The North Field East Project represents the first phase of LNG expansion.  The second phase, North Field South Project, will further increase production capacity from 110 MMTPA to 126 MMTPA.