Qatar Petroleum (QP) signed a long-term agreement with a subsidiary of China National Offshore Oil Corporation (CNOOC) to supply China with liquefied natural gas, S&P Global reports.
According to the report, QP reached an agreement to supply 3.5 million metric tonnes of LNG a year to China for a period of 15 years starting in January 2022.
QP relations with CNOOC date back to 2009 when the first LNG cargo was delivered to China.
Last week, Qatar announced that it will not rejoin OPEC instead focusing on developing its LNG relations with other countries.
Energy Minister Saad Bin Sherida Al-Kaabi said: “There is a reality of energy transformation in the global energy arena therefore we need to focus on alternative renewable energy sources.”
READ: Qatar’s OPEC decision will boost its energy independence