Qatar Energy Company announced the selection of Total Energy as a partner to develop the southern sector of the North Gas Field, with a share of 9.375% of the development plan, about 25% of which has been allocated to foreign partners.
According to the Qatari company, which announced today the signing of the agreement with Total, new partners will be announced at a later stage, while Qatar aims to raise its liquefied gas production capacity to 126 million tons annually.
The Chairman and CEO of Total, Patrick Pouyanne, said at the signing ceremony in Qatar that the French company’s investments in the new project will amount to $1.5 billion.
Qatar, the world’s largest exporter of liquefied natural gas, has entered into a partnership with several international companies to contribute to the North Field gas expansion project, which is estimated to cost about $29 billion, which will enhance Doha’s position as the largest exporter of liquefied natural gas in the world.
Last June, Qatar chose the US company ExxonMobil as its fourth partner in a giant project to develop the North Gas Field, after it signed partnerships earlier in the same month with Total Energy, Eni and ConocoPhillips. .
The North Field expansion includes six LNG trains that will increase Qatar’s liquefaction capacity from 77 million tons per year to 126 million tons per year by 2027, after reaching 110 million tons per year by 2025.
Archyde.com reported earlier that Chinese oil companies are in advanced talks with the State of Qatar to invest in the expansion of the eastern sector in the “North Field”, the largest liquefied natural gas project in the world, and to purchase fuel under long-term contracts.