State-owned Chinese firm Sinopec said on Saturday it had signed a new 27-year liquefied natural gas (LNG) supply and purchase agreement with Qatar Energy.
Under the agreement, the two firms will cooperate on the second phase of the North Field gas project, which will supply 3 million metric tons of LNG per year to Sinopec.
The Chinese firm also said it would take a 5% stake in the joint venture.
Source: Reuters (Reporting by Jason Xue and Dominique Patton; editing by Jason Neely)