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Menafn reported that Mr H E Abdullah bin Hamad Al Attiyah Qatar’s deputy Premier and minister of energy receiving a memento from Mr Fu Chengyu president of China National Offshore Oil Company during the launching ceremony of CNOOC office in Doha, as the Minister of State for Energy and Industrial Affairs H E Dr Mohamed Saleh Al Sada looks on.

Qatar will be supplying a total of 5 million tonnes per year of gas to China starting from 2010 to 2011 over the next 25 years, underscoring increasingly strong economic and political ties between the two countries.

Mr H E Abdullah bin Hamad Al Attiyah Qatar’s deputy Premier and minister of energy and industry said that “The first supply of gas to Petrochina will start next year and to China National Offshore Oil Company by 2010 to 2011. Petrochina will get a total of 3 million tonnes per annum and CNOOC, 2 million tonnes per annum. The gas will be supplied from Qatargas.”

Mr Fu Chengyu president of CNOOC said that an agreement for Qatar to supply the company’s terminals 2 million tonnes of liquefied natural gas each year for 25 years was reached in June last year. Today we are opening our office here. It is a milestone for CNOOC to develop its presence in the region and help promote the strategic relationship between China and Qatar.

He said that as the financial crisis is having worsening impacts on world economy and posing greater uncertainty for companies, establishing demonstrates that CNOOC focuses on building strategic partnership with Qatar’s energy industry on the long run. China potentially will become the largest LNG market in the world. Though global financial crisis and economic slump brought challenges, Chinese economy maintains momentum. China’s demand for clean energy like natural gas will continue to increase given the country’s commitment to combat climate change.

Mr Chengyu said that “Qatar is a very important player in world energy industry today. Qatar and China have great complementarities in energy cooperation. China can guarantee a long-term reliable market for Qatar, while Qatar can be a stable supplier for Chinese market.”

He said that CNOOC is the leading company in China’s LNG market. Today it is the only company with existing facilities and capacity to receive LNG in China. Capitalizing on China’s growing demand for energy, the company has drawn up aggressive investment plan in 2009. CNOOC has secured LNG supply of 13 million tonnes a year up to date. We plan to import 60 million tonnes of LNG each year by the year 2020. Today we are able to import even more LNG than the volume we have secured. We hope part of this additional volume come from Qatar.

(Sourced from Menafn.com)


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