PetroChina, CNOOC sign LNG purchase agreements from Qatar

China's two oil giants, PetroChina Company Ltd. (PetroChina) and China National Offshore Oil Corporation (CNOOC), signed agreements for the long-term supply of liquefied natural gas (LNG) from Qatar on Thursday.

PetroChina sealed a deal with Qatargas and Shell for 3 million tons of LNG annually that would last for 25 years. The LNG will come from the Qatargas 4 project, a partnership between Qatar Petroleum and Shell, which is still under construction.

On the same day, China's largest offshore oil company, CNOOC, signed an agreement with Qatargas that would lead to a long-term supply of LNG of 2 million tons per annum. According to the agreement, the LNG will be supplied to CNOOC's LNG terminals in coastal China.

Source:Xinhua