The deals indicate that Beijing recognises it must pay global market prices to secure supplies of LNG. It has already intensified the demand pressures in the tight global LNG market and is expected to force other countries to pay higher prices.
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China closes two multibillion LNG contracts with Qatar
On Thursday China signed two important multibillion, dollar long-term contracts to supply liquefied natural gas from Qatar, marking a milestone in Asia's evolution as the hottest market for the fuel
On Thursday China signed two important multibillion, dollar long-term contracts to supply liquefied natural gas from Qatar, marking a milestone in Asia’s evolution as the hottest market for the fuel.
PetroChina struck a deal to buy 3m tonnes of LNG a year over 25 years from 2011 with Qatar and Royal Dutch Shell, its partner.
CNOOC, China’s primary LNG importer, also signed a framework supply agreement. Although it is yet too be formalised in a binding contract, it is for 2m tonnes a year from 2009.
The deals indicate that Beijing recognises it must pay global market prices to secure supplies of LNG. It has already intensified the demand pressures in the tight global LNG market and is expected to force other countries to pay higher prices.
The deals indicate that Beijing recognises it must pay global market prices to secure supplies of LNG. It has already intensified the demand pressures in the tight global LNG market and is expected to force other countries to pay higher prices.
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