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TotalEnergies joins Qatar’s massive LNG project

QatarEnergy has penned a partnership deal with France’s TotalEnergies for the North Field East (NFE) expansion of the world’s largest liquefied natural gas (LNG) project and said more partners would be announced in the coming days.

Under the deal, QatarEnergy and TotalEnergies will become partners in a new joint venture company, 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 4 mega LNG trains with a combined nameplate LNG capacity of 32 mtpa. TotalEnergies is the world’s third-largest low-carbon LNG company, with a global market share of around 10%.

Qatar is slated to sign more deals with energy firms for a nearly $29bn project that will solidify its position as a top LNG exporter. Saad al-Kaabi, who is president of QatarEnergy and also Qatar’s minister of state for energy, said the selection process for partners has been finalised and subsequent signings could be announced as soon as next week.

Qatar’s state-owned oil and gas firm changed its name from Qatar Petroleum last year, signaling a new strategy focused on energy efficiency and environmentally-friendly technologies. The company has booked a huge number of LNG carrier yard slots in South Korea and China in 2020 to back the project and has already signed several shipowner contracts. The NFE project will expand Qatar’s LNG export capacity from the current 77 mtpa to 110 mtpa by 2027.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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