December 02, 2024 [Reuters]- 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.

The deal is for the supply of three million metric tons per annum year of LNG, said QatarEnergy in a statement on Monday, adding that the agreement will start in January 2025.

QatarEnergy added that the agreement highlights the continued growth of China’s LNG market, but did not say how long the duration of the supply deal with Shell would be.

China is the world’s largest importer of LNG. It shipped in 71 million metric tons of the super-chilled fuel in 2023, and a record high of nearly 79 million metric tons in 2021, according to the country’s customs data.

Qatar is the third largest LNG exporter globally after the U.S. and Australia. It has exported 73 million metric tons of LNG so far this year, according to data from analytics firm Kpler.

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