China Trade Information

China National Offshore Oil Corp (CNOOC Group), parent company of Hong Kong-listed CNOOC Ltd<883> said on Thursday that it has inked binding agreement with Qatargas Operating Co to import liquefied gas from Qatar.

Fu Chengyu, general manager of CNOOC Group said it plans to buy up to 2 million tons of liquefied gas from Qatar annually in the 25 years ahead. The purchase price will be set according to market price, Fu added.

The gas imported from Qatar is most likely to be transported to CNOOC’s projected reception station in Ningbo, Zhejiang Province, according to sources familiar with the deal. The agreement is a continuation of the unbinding one signed by the two sides in April.

CNOOC Group is China’s largest offshore oil and gas producer.

Tags: CNOOC, Gas, import, oil

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