CORRECTED QatarEnergy, China's National Petroleum Corp to ... - Reuters.com
CORRECTED QatarEnergy, China's National Petroleum Corp to sign 27-year LNG deal - sources | Reuters
CORRECTED QatarEnergy, China's National Petroleum Corp to sign 27-year LNG deal - sources
[1/2] A 3D printed natural gas pipeline is placed in front of displayed CNPC (China National Petroleum Corporation) logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration/FILE PHOTO
DUBAI, June 20 (Reuters) - QatarEnergy will sign a 27-year deal to supply China's National Petroleum Corp with 4 million tons of liquefied natural gas (LNG) per year, sources told Reuters on Tuesday.
CNPC will also take a 5% equity stake of one LNG train of QatarEnergy’s north field gas expansion, sources added.
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Related Knowledge Center: Liquefied natural gas
Driven by plentiful natural gas produced from shale plays, the United States began exporting liquefied natural gas in 2016 when the Sabine Pass terminal in Louisiana opened and shipped its first cargo. Since then, additional capacity, or trains, have been added to Sabine Pass, and terminals have become operational in Cameron Parish, La.; Hackberry, La.; Cove Point, Md.; and Corpus Christi, Texas. The Energy Information Administration projects that U.S. LNG export capacity will reach 8.9 billion cubic feet per day (Bcf/d) by the end of 2019, making it the third largest in the world, behind Australia and Qatar. The tariff war with China has the potential to impact some final investment decisions for additional terminals in the coming months.