The latest US$60 billion+ deal LNG supply deal between Qatar and China takes relations between the two countries to new heights.
, among others. It is apposite to note that this latest LNG deal between Qatar and China has also been flagged by senior Qataris and Chinese as being a key component for an ‘integrated partnership in the North Field East [project]’. Sinopec itself has indicated that it could be involved in negotiations for a stake in this massive field. Several local news sources have also stated that China’s national oil majors were in advanced talks with Qatar to invest in North Field East.
By securing a greater foothold in Qatar’s North Field East, China will gain an unparalleled hold over the biggest gas reservoir anywhere in the world, given its existing control over Iran’s South Pars field because the two fields are the two halves of one great gas reservoir. The whole gas field is 9,700 square kilometres, holding an estimated 1,800 trillion cubic feet of non-associated natural gas and at least 50 billion barrels of natural gas condensates.
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