(Information sent by the signatory company)
-CGTN: The deepening of China-Arab countries energy cooperation stems from win-win scenarios
BEIJING, Dec. 12, 2022 /PRNewswire/ — Situated at the crossroads of Asia, Africa and Europe, the Arab Countries are universally known for their unique geographical location and abundant energy reserves.
Energy cooperation, one of the main components of the China-Arab partnership, has not stopped developing in recent years, with a deepening relationship born of numerous win-win achievements.
70% of China’s oil supplies are imported. In 2021, China imported 265 million tons of crude oil from the Arab Countries, representing 51.6% of the national total.
To date, more than 200 large-scale cooperation projects in energy and infrastructure have been implemented, benefiting almost 2 billion people.
China-Arab Countries Cooperation in New Energies
The Middle East has the highest rate of sunlight exposure in the world, and Saudi Arabia is the world’s largest wind PV base.
The countries of the region pursue energy diversification through large-scale new energy projects. Last March, Saudi Arabia reaffirmed its five-year commitment to convert half of its total energy to renewable sources by 2030.
This could lay a solid foundation for China-Middle East cooperation, as Chinese companies master key stages of solar panel manufacturing.
China is Saudi Arabia’s largest trading partner, and Saudi Arabia is China’s largest energy supplier and its largest trading partner in the West Asia and Africa region.
According to the Chinese Ministry of Foreign Affairs, trade between the two countries reached 87.31 billion dollars in 2021, representing a year-on-year increase of 30.1%.
27-year LNG deal between China and Qatar
In the energy field, Qatar is the world’s leading exporter of liquefied natural gas (LNG).
As all eyes were on the opening ceremony of the Qatar 2022 World Cup on November 21, Chinese energy giant Sinopec and QatarEnergy signed a 27-year LNG deal under which QatarEnergy will supply 4m tonnes/year of LNG to Sinopec.
This is the first long-term purchase and sale agreement under the North Field East project in Qatar, which is expected to enter production in 2026.
Sinopec Chairman Ma Yongsheng said the deal will help China meet its demand for natural gas and optimize the country’s energy structure. The Qatari side is also satisfied with the long-term agreement.
The “Made in China” shines in the “Green World Cup
Qatar is a country where “water is more expensive than oil.”
With China’s support, the country built 15 super-large water storage tanks across the country to ensure water safety during the World Cup.
Built by a Chinese company, Qatar’s 800-megawatt Al Kharsaah solar power plant is one of the largest in the Middle East, increasing the share of renewables in Qatar’s energy mix and contributing to a “Global green.”
Link: https://news.cgtn.com/news/2022-12-09/Deepening-China-Arab-energy-cooperation-born-of-win-win-scenarios-1fCTLWmLTSE/index.html
Photo – https://mma.prnewswire.com/media/1965834…
View original content: https://www.prnewswire.com/news-releases/cgtn-profundizacion-de-la-cooperacion-energetica-china-paises-arabes-301700446.html
