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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:

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