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Sinopec Acquires 5% Stake in Qatar’s LNG Project, Boosting Export Capacity
Aerial drone photo of an anchored LNG tanker
Chinese oil titan Sinopec has announced its purchase of a stake in the North Field East liquefied natural gas project in Qatar, according to Qatar Energy’s Chief Executive Officer, Saad Al-Kaabi, who broke the news on Wednesday at a ceremony in Doha.
Sinopec shall acquire a 5% stake in a train of 8 million tonnes per annum processing capacity, forming part of the North Field East LNG export project.
ConocoPhillips, Shell, TotalEnergies, Exxon Mobil, and Eni are additional investors in the North Field East project, set to boost Qatar’s LNG export capacity from 77 million tonnes to 110 million tonnes annually.
Currently under construction, the facility is slated to dispatch its inaugural shipment in 2026.
