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Qatar gives China's oil giant Sinopec share of landmark natural gas field

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Chinese oil giant Sinopec becomes the first Asian firm to get a stake in Qatar's expansion of North Field East, the Gulf country's energy company announces

Qatar's energy minister and chief of QatarEnergy has called the signing a"milestone agreement" and a new"landmark" for relations between Doha and Beijing.

QatarEnergy said on Wednesday Sinopec will get a five percent stake in the equivalent of an eight-million-tonne production complex. QatarEnergy did not give a value for the Sinopec deal but said it "will not affect the participating interests of any of the other shareholders". North Field contains the world's biggest natural gas reserves and extends under the Gulf into Iranian territory.

 

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China's Sinopec to take stake in Qatar's North Field EastChina's Sinopec will take a stake in the eastern expansion of Qatar's North Field liquefied natural gas (LNG) project, state energy company QatarEnergy said on Wednesday. China only invests in countries that hold strong potential, so I'm actually very happy to see this.
Source: Reuters - 🏆 2. / 97 Read more »