QatarEnergy Signs 4MTPA LNG Supply deal with Taiwan CPC for 27 Year

QatarEnergy Signs 4MTPA LNG Supply deal with Taiwan CPC for 27 Year

QatarEnergy has signed Sales and Purchase Agreement (SPA) with Taiwan CPC Corporation for the delivery of four million tons per annum (mtpa) of liquefied natural gas (LNG) from the North Field East LNG expansion project (NFE) to CPC for 27 years

The two parties also has signed a share SPA pursuant to which QatarEnergy will transfer to CPC a 5% interest in the equivalent of one NFE train with a capacity of eight mtpa. This transfer will see CPC become a partner in the NFE project without affecting the participating interests of any of the other shareholders in the project, said QatarEnergy in a press release.

The NFE expansion project includes the North Field South and North Field West projects, which together will raise Qatar’s LNG production capacity from the current 77 mtpa to 142 mtpa in 2030.

“We look forward to further enhancing our relationship with CPC, which extends for over three decades, and to further demonstrate our unwavering commitment to our customers and partners around the world,” said Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy.

For his part, Shun-Chin Lee, the Chairman of CPC Corporation, Taiwan said: “QatarEnergy, the world’s leading LNG player, has been playing an important role in ensuring Taiwan’s domestic gas market over the past decades. CPC’s acquired equity in the NFE project and this new LNG SPA will further strengthen the cooperative relationship between our two companies.”

Avatar photo

Doaa Ashraf 462 Posts

Doaa is a staff writer with a Bachelor's Degree in Mass Communication, majoring Journalism from Ahram Canadian University. She has 2-3 years of experience in copywriting, and content creation.

Login

Welcome! Login in to your account

Remember me Lost your password?

Lost Password