![A person stands near the Qatar Energy section at an exhibition during the 23rd World Petroleum Congress conference at the George R. Brown Convention Center on 7 December 2021 in Houston, Texas. [Brandon Bell/Getty Images]](https://i0.wp.com/d2.middleeastmonitor.com/wp-content/uploads/2022/02/GettyImages-1357748608.jpg?fit=920%2C613&ssl=1)
Chinese oil giant, Sinopec, on Wednesday became the first Asian firm to get a stake in Qatar’s expansion of North Field East, the Gulf country’s energy company announced.
QatarEnergy said Sinopec will get a five per cent stake in the equivalent of an eight-million-tonne production complex.
QatarEnergy chief, Saad Sherida Al-Kaabi, Qatar’s Energy Minister, called it a “milestone agreement” and a new “landmark” for relations between the two countries.
“Today’s event underscores QatarEnergy’s commitment to deepening its relationships with key LNG consumers, while prioritising long-term strategic partnerships and alignment with world class partners from China, represented by Sinopec here today,” Al-Kaabi said in a QatarEnergy statement.