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QatarEnergy signs LNG agreement with CPC, continuing its unstoppable LNG market expansion

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Qatar continues it's unstoppable LNG market expansion, signing a new LNG sales and purchase agreement (SPA) with Taiwan’s CPC. The deal also includes the equivalent of a 1.25% stake in the NFE project for CPC, bringing the total number of international players in the project to eight. Over NFE and North Field South (NFS), 23 mmtpa of LNG remain available to contract. We expect further SPA announcements and further North Field expansion. With Qatar sitting on a reported 2000-plus tcf of gas reserves and the North Field remaining one of the most competitive sources of LNG globally, expansion seems inevitable. Using Wood Mackenzie’s Lens Upstream and LNG tool, we discuss: What this deal means for CPC and the Taiwan regions electricity generation ambitions The potential for another wave of SPA deals over North Field projects Qatar LNG's competitive advantages and the countries seemingly unstoppable LNG expansion

Table of contents

    • The deal brings in the eighth international partner to NFE
    • The agreement supports Taiwan’s nuclear phaseout and coal reduction ambitions
    • Is another wave of North Field SPA deals incoming?
    • We expect Qatar to continue its unstoppable LNG capacity expansion
    • Even as Qatar LNG expansion costs rise, it remains one of the most competitive sources of LNG globally

Tables and charts

This report includes 6 images and tables including:

  • NFE equity breakdown (%)
  • Taiwan LNG demand, contracted supply and spot exposure
  • Qatar LNG production capacity by contracted status (sanctioned and announced projects)
  • LNG supply outlook from top exporters
  • LNG cost delivered to Tokyo Bay
  • Piped gas/LNG cost to Europe, with regas

What's included

This report contains:

  • Document

    QatarEnergy signs LNG agreement with CPC, continuing its unstoppable LNG market expansion

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