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The largest state-owned petroleum company in Qatar signed a 27-year sales and purchase agreement with China's Sinopec on Monday.
Saad al-Kaabi, the head of QatarEnergy, told news outlets Monday morning that the company signed one of the longest agreements in the history of liquefied natural gas deals with the Chinese state-owned firm.
"Today is an important milestone for the first sales and purchase agreement for North Field East project; it is 4 million tons for 27 years to Sinopec of China," al-Kaabi said in an interview with Reuters in Doha just before signing the deal.
"It signifies long-term deals are here and important for both seller and buyer," the energy chief added. Qatar shares the North Field, a part of the biggest gas field in the world, with its northern neighbor, Iran.