* QatarEnergy selects TotalEnergies as 1st international partner in world's largest $28.75bn North Field East expansion project
* NFE project, which will expand Qatar’s LNG export capacity from current 77mn tonnes per year to 110MTPY, is expected to start production by end-2025
QatarEnergy has selected TotalEnergies as its first international partner in the $28.75bn 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 QatarEnergy’s international partners in the NFE project, which will expand Qatar’s LNG export capacity from the current 77mn tonnes per year (MTPY) to 110MTPY.
The NFE project, which is expected to start production before the end of 2025, employs 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.
The partnership agreements between QatarEnergy and TotalEnergies were signed at the QatarEnergy’s new headquarters in Doha Sunday.
The agreements were signed by HE the Minister of State for Energy Affairs, Saad Sherida al-Kaabi, also the President and CEO of QatarEnergy and Patrick Pouyanné, Chairman of the Board and Chief Executive Officer of TotalEnergies in the presence of senior executives from QatarEnergy and TotalEnergies.
Pursuant to the agreements signed Sunday, QatarEnergy and TotalEnergies will become partners in a new joint venture company (JV), in which QatarEnergy will hold a 75% interest while TotalEnergies will hold the remaining 25% interest.
The JV in turn will own 25% of the entire NFE project, including the four mega LNG trains with a combined nameplate LNG capacity of 32MTPY.
In his remarks during the ceremony, al-Kaabi said: “This is a historic landmark for Qatar’s energy industry and for the world’s largest LNG development. The North Field East project is an iconic achievement that will not only ensure the optimal utilisation of Qatar’s natural resources but will also provide the world with the cleaner and more reliable energy it needs.
“Today, QatarEnergy is standing at the threshold of a new era with a stronger commitment to energy transition and to the safe, reliable, and trustworthy access to cleaner energy. We will continue to power lives in every corner of the world for a better tomorrow for all. This is our commitment.”
“We look forward to working closely with TotalEnergies, who are a long-term strategic partner that we have always trusted to support the efficient and safe delivery of our projects. I would like to thank all the team members in QatarEnergy and TotalEnergies for the excellent collaboration and for all their hard work that has led to this important moment. I also would like to express thanks and appreciation to the project’s team and to the Qatargas organisation for continuing to deliver the NFE project, and with an outstanding safety record,” al-Kaabi added.
The minister said, “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.”
As part of the partner selection process, he said “QatarEnergy had received offers for double the equity available, underscoring the high-quality investment case of the NFE project thanks to its economic competitiveness, financial resilience, and also its unique environmental features.
“More partners are slated to join the NFE Project, as final terms have been agreed and the relevant announcements will be made soon.”
QatarEnergy has selected TotalEnergies as its first international partner in the $28.75bn 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 QatarEnergy’s international partners in the NFE project, which will expand Qatar’s LNG export capacity from the current 77mn tonnes per year (MTPY) to 110MTPY.
The NFE project, which is expected to start production before the end of 2025, employs 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.
The partnership agreements between QatarEnergy and TotalEnergies were signed at the QatarEnergy’s new headquarters in Doha Sunday.
The agreements were signed by HE the Minister of State for Energy Affairs, Saad Sherida al-Kaabi, also the President and CEO of QatarEnergy and Patrick Pouyanné, Chairman of the Board and Chief Executive Officer of TotalEnergies in the presence of senior executives from QatarEnergy and TotalEnergies.
Picture: Shaji Kayamkulam
Picture: Shaji Kayamkulam
The agreements were signed by HE the Minister of State for Energy Affairs, Saad Sherida al-Kaabi, also the President and CEO of QatarEnergy and Patrick Pouyanné, Chairman of the Board and Chief Executive Officer of TotalEnergies in the presence of senior executives from QatarEnergy and TotalEnergies.
Pursuant to the agreements signed Sunday, QatarEnergy and TotalEnergies will become partners in a new joint venture company (JV), in which QatarEnergy will hold a 75% interest while TotalEnergies will hold the remaining 25% interest.
The JV in turn will own 25% of the entire NFE project, including the four mega LNG trains with a combined nameplate LNG capacity of 32MTPY.
In his remarks during the ceremony, al-Kaabi said: “This is a historic landmark for Qatar’s energy industry and for the world’s largest LNG development. The North Field East project is an iconic achievement that will not only ensure the optimal utilisation of Qatar’s natural resources but will also provide the world with the cleaner and more reliable energy it needs.
“Today, QatarEnergy is standing at the threshold of a new era with a stronger commitment to energy transition and to the safe, reliable, and trustworthy access to cleaner energy. We will continue to power lives in every corner of the world for a better tomorrow for all. This is our commitment.”
“We look forward to working closely with TotalEnergies, who are a long-term strategic partner that we have always trusted to support the efficient and safe delivery of our projects. I would like to thank all the team members in QatarEnergy and TotalEnergies for the excellent collaboration and for all their hard work that has led to this important moment. I also would like to express thanks and appreciation to the project’s team and to the Qatargas organisation for continuing to deliver the NFE project, and with an outstanding safety record,” al-Kaabi added.
The minister said, “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.”
As part of the partner selection process, he said “QatarEnergy had received offers for double the equity available, underscoring the high-quality investment case of the NFE project thanks to its economic competitiveness, financial resilience, and also its unique environmental features.
“More partners are slated to join the NFE Project, as final terms have been agreed and the relevant announcements will be made soon.”
