China’s Sinopec to Take 5% Share in Qatar’s North Field East

Residents walk along Doha's Corniche beneath the city's skyscrapers. (Getty Images)
Residents walk along Doha's Corniche beneath the city's skyscrapers. (Getty Images)
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China’s Sinopec to Take 5% Share in Qatar’s North Field East

Residents walk along Doha's Corniche beneath the city's skyscrapers. (Getty Images)
Residents walk along Doha's Corniche beneath the city's skyscrapers. (Getty Images)

China's state-owned oil and gas giant Sinopec will take a 5% stake in Qatar's North Field East expansion, part of the world's largest liquefied natural gas (LNG) project, state news agency QNA reported on Wednesday.

QatarEnergy had said previously that it could give up to a 5% stake in the project to some buyers, which QatarEnergy CEO Saad al-Kaabi called "value-added partners".

Last November, Sinopec signed a deal in which QatarEnergy agreed to supply 4 million tons of LNG annually for 27 years, the longest LNG contract ever signed by Qatar.

At the time, Sinopec said the agreement was part of an "integrated partnership", which indicated the Chinese firm could be considering acquiring a stake in Qatar's North Field expansion export facility.

QatarEnergy last year signed five deals for North Field East, the first and larger phase of the two-phase North Field expansion plan, which includes six LNG trains that will ramp up Qatar's liquefaction capacity to 126 million tons per year by 2027 from 77 million tons.

It also signed three partnership agreements on the Gulf Arab state's North Field South expansion.

QatarEnergy has said it plans to retain a 75% stake overall in the North Field expansion which will cost at least $30 billion, including construction of liquefaction export facilities.

The North Field is part of the world's biggest gas field that Qatar shares with Iran, which calls its share South Pars.



Saudi Inflation Rate Remains Stable at 2.3% in June 2025

The Wholesale Price Index (WPI) recorded a relative stability at 2.1% in June 2025
The Wholesale Price Index (WPI) recorded a relative stability at 2.1% in June 2025
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Saudi Inflation Rate Remains Stable at 2.3% in June 2025

The Wholesale Price Index (WPI) recorded a relative stability at 2.1% in June 2025
The Wholesale Price Index (WPI) recorded a relative stability at 2.1% in June 2025

The General Authority for Statistics (GASTAT) reported that the annual inflation rate in Saudi Arabia remained stable at 2.3% in June 2025 compared to the same month of the previous year.

The Consumer Price Index (CPI) also remained steady at 0.2% in June 2025 compared to May 2025, on a monthly basis.

Similarly, the Wholesale Price Index (WPI) recorded a relative stability at 2.1% in June 2025 compared to the same month last year. However, the WPI decreased by 0.1% in June 2025 compared to May 2025.

According to GASTAT, CPI reflects price changes paid by consumers for a fixed basket of 490 goods and services. This basket was selected based on the results of the 2018 Household Income and Expenditure Survey. Prices are collected through field visits to points of sale, and the CPI statistics are published monthly.