China signed a 27-year LNG purchase contract with Qatar

According to Energy Press, China’s state-owned company Sinopec announced that it has signed a new 27-year contract for the supply and purchase of liquefied natural gas (LNG) with Qatar Energy.
According to this contract, 2 companies will cooperate on the second phase of the North gas field project (South Pars, Qatar sector), which will supply 3 million tons of LNG to Sinopec annually.
This Chinese company also announced that it will acquire 5% of the shares of this joint venture.
This contract, which was signed at the China International Import Expo, is the third long-term supply contract between Sinopec and Qatar Energy, the world’s largest LNG supplier.
The two parties signed a 10-year LNG purchase and sale agreement in 2021.
The northern gas field is a part of the largest gas field in the world, in which Qatar and Iran share, and Iran calls its part South Pars.