Shell (NYSE:SHEL) and QatarEnergy said Monday they signed a new long-term sale and purchase agreement with an undisclosed client to deliver liquefied natural gas to China. The deal calls for the supply of 3M metric tons/year of LNG,

State-owned QatarEnergy (QATPE.UL) has signed a long-term sales and purchase agreement with oil and gas major Shell to supply it with liquefied natural gas (LNG) for delivery to China.

China imported a record 71 million tonnes (mt) of liquefied natural gas (LNG) in 2023, reflecting strong demand for the fuel.

QatarEnergy and Shell have entered into a new long-term sale and purchase agreement (SPA) for the supply of three million tonnes per annum (mtpa) of liquefied natural gas (LNG) to China. LNG deliveries will start in January 2025, underscoring the continued growth of China’s LNG market, which is projected to be the largest globally.