Qatargas increases its Chinese presence

On 19 September the Zhejiang Ningbo terminal in China took its first delivery
of LNG from Qatargas, the world’s largest LNG company. The gas was transported in a Qatargas Q-Max LNG vessel, with a capacity of up to 266,000 cu metres – considerably larger than most LNG transporters – and an on-board regasification apparatus (equipment that heats the LNG back into gas). Qatargas currently supplies around 5m tonnes of LNG to China annually, through long-term contracts with the China National Offshore Oil Corporation (CNOOC) and PetroChina. CNOOC, the third-largest Chinese oil company and owner of the Zhejiang Ningbo terminal, buys 2m tonnes per year from Qatar, while PetroChina, Asia’s largest oil and gas producer, receives 3m tonnes. China is already one of the biggest markets for Qatari LNG, along with Japan, South Korea, the UK and India. Qatargas, which has an annual LNG output capacity of around 42m tonnes, currently exports to 21 countries.