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Qatar Petroleum signed a 15-year LNG sale agreement with Taiwan’s CPC

Since the 1st LNG delivery in March 2006, CPC has received more than 63 million tons of LNG from Qatar

Qatar Petroleum signed a 15-year LNG sale agreement with Taiwan’s CPC

Doha, July 8 - Neftegaz.RU. Qatar’s state-owned company to supply 1.25 million tons per annum (MTPA) of LNG to the Taiwanese state refiner CPC Corporation.
The SPA was signed by CEO of Qatar Petroleum Saad Sherida Al-Kaabi, and the President of CPC Shun-Chin Lee.

LNG deliveries will commence in January 2022 and will be delivered to CPC’s receiving LNG terminals.
Australia and the United States are Taiwan's other main sources of LNG.

Saad Sherida Al-Kaabi said:
  • We are pleased to enter into this long term LNG SPA, which is another milestone in our relationship with CPC, which dates back to almost 3 decades
CPC spokesman Chang Ray-chung said:
  • As Taiwan moves away from coal and nuclear, and toward renewable energy and LNG, we are in need of more long-term assured supplies
In 2020 Taiwan used about 17 million tonnes of LNG.
By 2025, LNG is expected to provide 50% of the the country’s electricity, up from about 40% last year.

Qatar is in full steam ahead with its expansion plans in the energy sector.
The country has embarked on an ambitious LNG capacity expansion plan.
The 2-phase North Field Expansion project will see Qatar LNG capacity to increase from 77 million tonnes per annum (mtpa) to 126 mtpa by 2027, showing an increase of around 64%.

To read the news in Russian

Source : Neftegaz.RU


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