Under the terms of the memorandum of understanding, Qatargas intends to supply an additional three million tonnes of liquefied natural gas (LNG) per annum to China National Offshore Oil Company (CNOOC) commencing in 2013. In addition to this base volume, Qatargas and CNOOC will contemplate the sale and purchase of an additional two million tonnes per annum of LNG.

Qatargas has said that these volumes combined with an existing long-term supply commitment of two million tonnes of LNG agreed under a sales and purchase agreement signed in 2008 will potentially take the total volume of the Qatari LNG to be supplied to CNOOC to seven million tonnes per annum. Qatargas has opened its representative office in Beijing, China.

Faisal Al Suwaidi, chairman and CEO of Qatargas, said: "With the opening of our Beijing representative office we are demonstrating our long-term commitment to the Chinese energy market which is poised to be one of the biggest LNG consumers in the world in the near future."

A service of YellowBrix, Inc.