QatarEnergy has announced that it has selected TotalEnergies as the first international partner in the North Field South (NFS) expansion project.
The NFS project, which comprises two LNG mega trains with a combined capacity of 16 million tpy, will raise Qatar’s total LNG export capacity to 126 million tpy.
The partnership agreement was signed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, President and CEO of QatarEnergy, and Mr. Patrick Pouyanné, Chairman of the Board and CEO of TotalEnergies, during a ceremony held at QatarEnergy’s headquarters in Doha and attended by Senior Executives from both companies.
Pursuant to the agreement, TotalEnergies will have an effective net participating interest of 9.375% in the NFS project (out of a total 25% interest available for international partners) while QatarEnergy will hold a 75% interest.
In his remarks during the ceremony, H. E. Minister Al-Kaabi said: “QatarEnergy is moving forward, to help meet growing global demand for cleaner energy, of which LNG is the backbone for a serious and realistic energy transition. We are committing significant investments to lower the carbon intensity of our energy products, which constitutes a key pillar of QatarEnergy’s sustainability and energy transition strategy.”
“We will continue our efforts to power lives in every corner of the world for a better tomorrow for all,” His Excellency added.
H. E. Minister Al-Kaabi welcomed TotalEnergies to this new project and said “I am pleased to welcome TotalEnergies yet again as a partner in our flagship LNG projects.”
In concluding his remarks, H. E. Minister Al-Kaabi said: “I would like to thank the working teams at QatarEnergy and TotalEnergies for their excellent co-operation that led to this agreement. I also would like to thank the Qatargas leadership and project teams for their efforts in implementing the North Field expansion projects on schedule, and with an outstanding safety record. Most importantly, we are forever grateful to the wise leadership of His Highness the Amir Sheikh Tamim bin Hamad Al Thani and for His unlimited support of Qatar’s energy sector.”
The North Field Expansion Project, comprising NFS and the North Field East (NFE) expansion projects, is the industry’s largest ever LNG project. It will start production in 2026 and will add more than 48 million tpy to the world’s LNG supplies. Five partnership agreements have been signed in June and July this year covering the NFE project, which comprises four mega LNG trains with a combined capacity of 32 million tpy.
This unique project is characterised by the highest health, safety, and environmental standards, including carbon capture and sequestration, to reduce the project’s overall carbon footprint to the lowest levels possible. Other partners in the NFS project will be announced in due course.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/27092022/qatarenergy-partners-with-totalenergies-in-the-north-field-south-expansion-project/