Qatar Drilling Tender Imminent
12 Oct, 2018
Corporate
Qatar Secures New Long Term LNG Sales Deal With China
14 Sep 2018
Qatar is reaping the benefits of the gathering US-China trade war, this week tying up a major LNG sales contract with Chinese state firm PetroChina. Qatargas announced on 10 September that a 22-year deal to supply 3.4mn t/y has been finalized, with the first cargo to be delivered this month.
Chinese LNG demand is surging as the government has implemented an extensive program to switch domestic heating from coal to gas. LNG imports soared 46% year-on-year in 2017 as a result (MEES, 2 March) and volumes have continued to soar since. Eight months in to 2018 and China has imported 32.6mn tons, up a whopping 47% year-on-year, and already within touching distance of last year’s annual record of 38.3mn tons.
Clearly import rises on such a scale create major opportunities for exporters such as Qatar. But while Chinese purchases from the Gulf state hit a record 7.7mn tons...
Qatar's LNG Clients (MN Tons)
