Qatar Energy signed two agreements with CPC Corporation, Taiwan, one related to the long-term supply of liquefied natural gas to CPC, and the second related to the partnership in the North East Field Expansion Project.
- According to a statement by Qatar Energy, the two sides signed an agreement to buy and sell liquefied natural gas, according to which 4 million tons of liquefied natural gas will be delivered annually from the North East Field Expansion Project to CBC over a period of 27 years.
- The two sides also signed a share sale and purchase agreement under which Qatar Energy will transfer a 5% share of the equivalent of one equivalent production line from the North East Field Expansion Project with a capacity of 8 million tons annually to CBC. This will make CBC a new partner in the project without affecting the shares of the other partners in it.
Saad bin Sherida Al Kaabi, Qatari Minister of State for Energy Affairs, and Managing Director and CEO of Qatar Energy, said: “We look forward to strengthening our relationship with CBC, which extends for more than 3 decades, as well as to embodying our firm commitment to our customers and partners around the world.”
Qatar Energy chooses CBC as a partner in the North East Field and signs an agreement with it to supply four million tons of liquefied natural gas annually for 27 years.#Qatar_Energy #Qatar pic.twitter.com/DlWCDeA5Ei
— QatarEnergy (@qatarenergy) June 5, 2024
For his part, Shun-Chen Lee, Chairman of the Board of Directors of CBC Taiwan, said: “Qatar Energy, the world’s leading company in the field of liquefied natural gas, has played an important role in meeting the needs of the local gas market in Taiwan over the past decades.”
He added, “There is no doubt that the share obtained by CBC in the North East Field development project and the new liquefied natural gas sale and purchase agreement will strengthen the cooperative relationship between our two companies.”
It is noteworthy that the North East Field expansion project is part of the comprehensive plan to increase the production of liquefied natural gas from the North Field, which also includes the southern and western North Field projects, which will raise Qatar’s production capacity of liquefied gas from 77 million tons annually currently to 142 million tons annually in 2030. .
