Qatar and Saudi Arabia Both Place Long Term Bets on China

Qatari Energy Minister Saad Sherida Al-Kaabi, who is also the President and CEO of Qatar Petroleum, and Mr. Zhang Yuzhuo, the Chairman of Sinopec Group, participate in a virtual ceremony attended by senior officials from both sides.

With oil and gas demand in the U.S. and Europe expected to fall dramatically in the years ahead as both regions embrace a post-carbon economy, two of the world’s largest energy exporters, Qatar and Saudi Arabia, are now looking to China to fill the void. Ministers and corporate leaders from both countries are placing huge long-term bets on supplying China with vast amounts of oil and gas for decades to come:

  • QATAR: The state-owned Qatar Petroleum signed its first long-term deal to supply natural gas to China. The state-owned Qatar Petroleum signed a deal on Monday to supply Sinopec, also a state-owned company, with 2 million tons of liquified natural gas per year. (OIL & GAS MIDDLE EAST)
  • SAUDI ARABIA: The head of Saudi Aramco, the world’s largest oil company, said that ensuring China’s energy security for the next 50 years will be the company’s top priority. Amin Nasser made the comments on Monday at a meeting of the China Development Forum. Saudi Arabia is now China’s top energy supplier. (ARGUS MEDIA)

Chinese Foreign Minister Wang Yi will be traveling to Saudi Arabia as part of a six-nation tour of the Persian Gulf and Turkey that kicks off tomorrow.

  • Get a daily email packed with the latest news and analysis from Africa, Asia, and across the Global South.
  • Read exclusive insights on the key trends shaping China’s relations across the Global South.
  • Full access to the News Feed that provides daily updates on Chinese engagement in the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More
by Eric Olander

Most Read

1
Developing Countries’ Debt Servicing Costs to China Are Significant, but Nowhere Near as Much as Other Creditors
2
Uncertainty Roils Minerals Markets
3 Chinese Scholars See Russia’s Venezuela Strategy as a Model of Hybrid Power Projection in the U.S.’ Backyard
4 From J-10C to Kaan? Indonesia’s Fighter Jet Deal With Turkey Shocks Chinese Military Fans
5 Chinese Military Fans Discuss Why Indonesia Bought Rafale Instead of J-10C
6
Indonesia Goes Nuclear, Taps China and Russia for Modular Reactors

You Might Like

China Importing Record Volumes of Sanctioned Iranian Oil

China is importing a record amount of Iranian crude, easily circumventing U.S. sanctions expressly designed to restrict such trade, according to new findings by the data intelligence firm Kpler. Iranian oil sales to ...

Why We Should All Just Take a Breath and Ignore the Hype Surrounding the Proposed China-Iran Deal

News that China and Iran were in late-stage talks to finalize a 25-year, $400 billion deal generated an alarming response in the U.S. and Europe, prompting widespread concern that a new, enhanced partnership ...

Chinese Oil Buying From Saudi Arabia Surges, Likely at Africa’s Expense

Saudi Arabia is emerging as an increasingly important hub on China’s Belt and Road Initiative as Beijing turns to the Kingdom for an increasingly large share of its oil procurement. 

U.S. Tries to Stem the Flow of Iranian Oil to China

The United States government on Wednesday imposed new sanctions against Iranian oil companies and the network of firms that help facilitate the flow of Iranian crude to markets in East Asia, specifically China. Every ...

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

More about CGSP
Detected IP: 216.73.216.50