???? ??????: New LNG deal for QatarEnergy

On November 4, QatarEnergy and China's Sinopec signed a 27-year liquefied natural gas (LNG) deal. According to the official statement, the cooperation will be held on the second phase of Qatar's North Field expansion project, which the supply will be 3 million metric tons per annum (MTPA). Besides, QatarEnergy will transfer its 5% interest to Sinopec in a joint venture (JV) company. The JV company has 6 MTPA LNG production capacity in the North Field South project.

Having LNG agreements with Eni, TotalEnergies, and Shell to supply Europe, Qatar has increased the geopolitical significance of its developing North Field expansion project, which the first phase aims to increase the country's LNG production by 43% from 77 MTPA to 110 MTPA by 2025. Particularly after the conflict in Gaza Strip that harshly impacted Egypt's LNG export to Europe due to suspension of EMG pipeline and Israeli Tamar Gas field, Qatar might play crucial role for the Europe's energy security.