Today.Az » World news » Bad news for EU: Historic LNG deal between Doha and Beijing
24 November 2022 [12:57] - Today.Az
By News Center
The longest-term natural gas deal in history was signed between Qatar and China. With the 27-year-long agreement, signed between Qatar Energy and China Petroleum and Chemical Company (Sinopec), the Gulf state will send 4 million tons of LNG to Beijing annually.
Saad Sherida al-Kaabi, Qatar's energy minister and CEO of Qatar Energy, described the agreement as "the longest-term supply agreement signed in the history of the LNG industry". The gas to be sent to China will be met from the North Field, whose production will increase by 60 percent to 126 million tons annually by 2027.
East Asian countries, China, South Korea, and Japan stand out as the main markets for Qatar gas. The giant LNG agreement signed between Doha and Beijing was a big blow to the European Union, which was looking for an alternative to Russian gas. In the past months, EU President Charles Michel held talks in the Gulf nation, especially in Qatar, but did not reach a conclusion. It is known that the recent statements of European countries targeting Arab countries have caused reactions by the Gulf nations.