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Sinopec signs new 27-year LNG supply deal with QatarEnergy
State-owned Chinese firm Sinopec signed a new 27-year liquefied natural gas (LNG) supply and purchase agreement with QatarEnergy, the two companies said on Saturday. Under the agreement, the two companies will cooperate on the second phase of the Gulf Arab state's North Field expansion project, which will supply 3 million metric tons of LNG per year to Sinopec. A partnership agreement was also signed under which QatarEnergy will transfer a 5 per cent interest to Sinopec in a joint venture company that owns the equivalent of 6 million tons per year of LNG production capacity in the North Field South project. The deal, ... (full story)