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Why African Energy Exporters Should Be Concerned About CNOOC’s Interest in a Massive Qatari Gas Deal

by Eric Olander
File image of the headquarters building of China National Offshore Oil Corporation (CNOOC) in Beijing. STR / AFP

One of China’s three major oil and gas companies, CNOOC, is reportedly interested in joining the world’s largest natural gas project in Qatar.

The company’s CFO Xie Weizhi said CNOOC is exploring the option to invest in the $29 billion North Field East Project that would provide a massive boost to the Gulf country’s annual LNG output from 77 million tons today to 110 million tons by 2025.

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