China’s Sinopec Corp has awarded a 10-year tender to buy 1 million tonnes of liquefied natural gas annually from Qatargas, two industry sources with knowledge of the matter said on Friday, Trend reports with reference to Reuters.
Sinopec has agreed to pay at a slope of 10.19% to Brent crude on a delivered ex-ship basis, said one of the sources.
The Chinese state oil and gas producer issued the tender in July, seeking supplies starting 2023, to take advantage of current low prices after the COVID-19 pandemic hammered global demand for the fuel.
Sinopec and Qatargas did not immediately respond to emailed requests for comment.