Qatar has got the ball rolling with partner awards for its $28.75bn 32mn t/y North Field East (NFE) LNG expansion project, awarding TotalEnergies an effective 6.25% stake for around $2bn (MEES, 17 June). The NFE project will increase Qatar’s LNG capacity from 77mn t/y to 110mn t/y by 2027, and the second phase (North Field South: NFS) is slated to grow it further to 126mn t/y.
The French major has been awarded a 25% stake in a joint venture (JV) alongside state firm QatarEnergy (75%), which will in turn hold a 25% stake in the entire NFE project (see flowchart). QatarEnergy CEO Saad Sherida al-Kaabi is quoted by local media telling the 12 June signing ceremony that “Qatar has a unified approach, where all four trains are considered one unit. TotalEnergies’ 25% stake in one virtual train gives it around 6.25% of the whole four trains.” (CONTINUED - 753 WORDS)