Qatar’s supply agreement with China provides for the export of 108 million tons of liquefied natural gas (LNG) over 27 years.
(Photo: imago/photothek)
Berlin Qatar Energy and Sinopec struck a major supply deal on Monday. The German government is embarrassed by the agreement between the world’s largest liquid gas producer and the Chinese group. The supply agreement provides for the export of 108 million tons of liquefied natural gas (LNG) over 27 years – making it one of the largest gas supply contracts ever.
Germany, on the other hand, wants to accept contracts for a maximum of five years because of the planned phase-out of fossil fuels. Qatar, however, insists on long-term agreements because of the upcoming investments in the expansion of gas production and liquefaction of 45 billion dollars and a gigantic expansion of the LNG tanker fleet.
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