QatarEnergy and CNPC, Chinese state-controlled company, are expected to sign a 27-year contract to allow Qatar to secure its second large gas supply with the Chinese company, according to sources in a Reuters report.
Sources in the report elaborated that CNPC will also purchase stock in Qatar’s North Field LNG project’s eastern expansion. The share is equal to 5% of one LNG train with an annual capacity of 8 million tons.
QatarEnergy has also signed equity partnerships on the project to international oil companies, but has said it plans to retain a 75% stake in the North Field expansion, which will cost at least $30 billion including construction of liquefaction export facilities.