QatarEnergy selects CPC as NFE partner

The two parties signed an LNG sales and purchase agreement (SPA) for the delivery of 4 million tpy of LNG from the NFE project to CPC over a period of 27 years.

The two sides also signed a share SPA pursuant to which QatarEnergy will transfer to CPC a 5% interest in the equivalent of one NFE train with a capacity of 8 million tpy. This transfer will see CPC become a partner in the NFE project without affecting the participating interests of any of the other shareholders in the project.

The agreements were signed by Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and Shun-Chin Lee, the Chairman of CPC Corporation, Taiwan, during a special ceremony held at QatarEnergy’s headquarters in Doha and attended by senior executives from both companies.

Al-Kaabi said: “We look forward to further enhancing our relationship with CPC, which extends for over three decades, and to further demonstrate our unwavering commitment to our customers and partners around the world.”

Al-Kaabi expressed his thanks and appreciation to the teams from CPC and QatarEnergy for their hard work and dedication to conclude the agreements.

Chin Lee added: “QatarEnergy, the world’s leading LNG player, has been playing an important role in ensuring Taiwan’s domestic gas market over the past decades. CPC’s acquired equity in the NFE project and this new LNG SPA will further strengthen the co-operative relationship between our two companies.”

The NFE project is part of the overall North Field LNG expansion programme that also includes the North Field South and North Field West projects, which together will raise Qatar’s LNG production capacity from the current 77 million tpy to 142 million tpy in 2030.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/10062024/qatarenergy-selects-cpc-as-nfe-partner/