Qatar has picked Exxon Mobil Corp, Total Energies SE (TTEF. PA), Shell (SHEL. L), and ConocoPhillips (COP. N). These companies will partner in the world’s largest liquefied natural gas (LNG) project and North Field. Boosting Qatar’s LNG output by 64% by 2027. This will strengthen its position as the world’s top LNG exporter and a long-term supply of gas to Europe.
State-owned Qatar Energy (QE) had made a final investment decision alone to develop the $30 billion North Field expansion project. Therefore, opening a bid to seek partners to share the financial risk of the development.
The four companies, which already are part of Qatar’s existing LNG production, submitted bids in May 2021. Also, together with new entrants Chevron Corp (CVX.N) and Italy’s Eni (ENI.MI). Four people confirmed Exxon and Total were among the winners, while Shell and Conoco will take part in the project.
QE said it will hold a press conference and a signing ceremony on June 12, without specifying the subject. The North Field Expansion (NFE) plan includes six LNG trains. These will ramp up Qatar’s liquefaction capacity from 77 million tonnes per annum (mtpa) to 126 mtpa by 2027.
REUTERS