QatarEnergy and Shell have entered into a new long-term sale and purchase agreement (SPA) for the supply of three million tonnes per annum (mtpa) of liquefied natural gas (LNG) to China.
LNG deliveries will start in January 2025, underscoring the continued growth of China’s LNG market, which is projected to be the largest globally.
H.E. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said, “This agreement helps meet the requirements of Shell’s end customers in China and enhances our contributions to meeting the needs of LNG end-users worldwide.”
Global LNG prices are expected to decline due to a flood of export capacity coming online through to 2028, primarily in the US and Qatar.
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