QatarEnergy selects CPC as North Field expansion partner, signs 4 MMtpy LNG SPA for 27 years

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 (NFE) LNG expansion project. The two parties signed an LNG Sales and Purchase Agreement (SPA) for the delivery of 4 MMtpy 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 Mr. 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.

The NFE project is part of the overall North Field LNG expansion program that also includes the North Field South and North Field West projects, which together will raise Qatar’s LNG production capacity from the current 77 MMtpy to 142 MMtpy in 2030.​