Qatar Energy Company announced the signing of two agreements with the Taiwanese CPC Corporation to supply it with liquefied natural gas over a period of 27 years, as well as a partnership in the North East Field expansion project.
The two sides signed an agreement to buy and sell liquefied natural gas, according to which four 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.
They 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 eight 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.
The two agreements were signed by His Excellency Engineer Saad bin Sherida Al-Kaabi, Minister of State for Energy Affairs, Managing Director and CEO of Qatar Energy, and Mr. Chun-Chen Lee, Chairman of the Board of Directors of CBC Taiwan, in a special ceremony held at Qatar Energy’s headquarters in Doha. In the presence of a number of senior officials from both companies.
For his part, His Excellency the Minister of State for Energy Affairs welcomed CBC as a valuable partner in the North East Field expansion project, saying: “We look forward to strengthening our relations with CBC, which extend for more than three decades, as well as to embodying our firm commitment to our customers and partners around the world.” . He expressed his thanks and gratitude to the work teams from CBC and Qatar Energy for their great efforts to reach these two agreements.
In turn, Mr. Chun-Chen Lee 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. 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 South and West North Field projects, which will raise the State of Qatar’s production capacity of liquefied natural gas from 77 million tons annually currently to 142 million tons annually in the future. Year 2030.
