China, Qatar sign 27-year natural gas contract

(ECNS) -- China National Petroleum Corp. (CNPC) and QatarEnergy signed 27-year liquefied natural gas (LNG) contract on Tuesday, Agence France-Presse reported.

According to the deal, four million tons of Qatar’s liquefied natural gas will be transferred to China annually, and CNPC will take a five percent equity stake in a production train at QatarEnergy’s north field gas expansion project.

This is the second significant LNG supply agreement signed by Qatar and China within a year.