QatarEnergy and China Petrochemical Corporation (Sinopec) have a signed a partnership agreement regarding the North Field South (NFS) expansion project. In addition to that, the two companies have also established a long-term sale and purchase agreement (SPA).
According to the SPA, the NFS project will deliver 3 million tonnes per annum (MTPA) of liquefied natural gas (LNG) to Sinopec's Chinese receiving terminals. The SPA will be valid for 27 years.
In regards to the partnership agreement, Sinopec will receive a 5% stake in a joint venture that holds 6 million tonnes per annum (mtpa) of liquefied natural gas (LNG) capacity in the initiative.
This is QatarEnergy's second partnership of its kind with Sinopec.
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