Sinopec signs 10-year deal with Qatar Petroleum for 2 m tons of LNG

China Petrochemical Corp, or Sinopec Group, has signed a long-term purchase and sales agreement with Qatar Petroleum to buy 2 million tons of LNG from Qatar Petroleum each year for 10 years, starting in 2022, the company said on Monday.

The long-term purchase and sales agreement with Qatar is of great importance and the company is looking forward more cooperation with Qatar Petroleum in the future, said Zhang Yuzhuo, chairman of Sinopec, Asia's biggest refiner.

The long-term agreement will not only meet the demands of the Chinese market for LNG but also reflects the company's commitment to a low-carbon and green sustainable path. It is every company's duty to achieve carbon neutrality, Zhang said.

As a major strategic partner in the energy field, Qatar has supplied 62 million tons of LNG since 2009. With the government introducing more environmentally-friendly procedures, it is expected the country's LNG market in the future will embrace more stable and steady growth, Sinopec said.