PetroChina, Shell and Qatargas Ink Deal

PetroChina, Shell and Qatargas inked binding sales and purchase agreements recently. Shell and Qatargas will provide long-term supply of liquefied natural gas (LNG) to the rapidly growing Chinese market. The agreements are for 3 million tonnes per annum of LNG for 25 years.

Qatar, already the world’s largest LNG exporter, is set to expand production to 77 million tonnes per annum by 2010. Chinese companies have previously signed long-term LNG supply agreements with projects in Australia, Indonesia and Malaysia. The cleaner energy from LNG will contribute to fuelling China’s fast and sustainable economic development. The agreements underline the partnerships that Shell is building with both suppliers and consumers to help meet the global energy challenge.

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