QatarEnergy selects TotalEnergies as Its first partner in North Field East expansion project.
17 June 2022, 12:00 AM
30 June 2022, 12:00 AM
QatarEnergy has announced that it has selected TotalEnergies as its first international partner in the North Field East (NFE) expansion project, the single largest project in the history of the LNG industry.
The announcement comes at the conclusion of a competitive process that started in 2019 to select Qatar Energy's international partners in the NFE project, which will expand Qatar's LNG export capacity from the current 77 million tons per annum (MTPA) to 110 MTPA.
Pursuant to the agreements signed on 12th June, QatarEnergy and Total Energies will become partners in a new joint venture company (JV), in which Qatar Energy will hold a 75 percent interest while Total Energies will hold the remaining 25 percent interest. The JV in turn will own 25 percent of the entire NFE project, including the 4 mega LNG trains with a combined nameplate LNG capacity of 32 MTPA.
A special ceremony was held at QatarEnergy's headquarters in Doha to mark the occasion, during which Minister of State for Energy Affairs, the President and CEO of QatarEnergy HE Saad bin Sherida Al Kaabi and Chairman of the Board and Chief Executive Officer of Total Energies Patrick Pouyanne signed the partnership agreements in the presence of senior executives from QatarEnergy and TotalEnergies.
More partners are slated to join the NFE Project, as final terms have been agreed and the relevant announcements will made soon. (QNA)