China Petroleum and Chemical Corp., aka Sinopec, has agreed to take a stake in QatarEnergy’s North Field East (NFE) LNG expansion project, the first equity deal between a Chinese state-owned firm and the major natural gas exporter.

Qatar's North Field

Sinopec negotiated a 5% stake in one of the four 8 million metric ton/year (mmty) capacity trains outlined for the NFE project. It is the first Asian firm to become an equity partner in one of QatarEnergy’s mega liquefied natural gas projects.

Chairman Ma Yongsheng said the agreement formalized Wednesday was the latest result of efforts between Chinese President Xi Jinping and Qatar’s Sheikh Tamim bin Hamad Al Thani to forge cooperation on energy infrastructure.

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