QatarEnergy selects Taiwan's CPC as North Field Expansion partner, signs 27-year LNG supply deal

Doha, Qatar :QatarEnergy signed definitive agreements with CPC Corporation, Taiwan (CPC) covering the long term supply of LNG to CPC and partnership i...

Doha, Qatar :QatarEnergy signed definitive agreements with CPC Corporation, Taiwan (CPC) covering the long-term supply of LNG to CPC and partnership in the North Field East LNG expansion project (NFE).

The two parties signed an LNG Sales and Purchase Agreement (SPA) for the delivery of four million tons per annum (MTPA) of LNG from the NFE project to CPC over a period of 27 years.

The two sides also signed a share sale and purchase agreement pursuant to which QatarEnergy will transfer to CPC a 5% interest in the equivalent of one NFE train with a capacity of eight MTPA. 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 His Excellency Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and Mr. 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.