Monday, May 27, 2024

An agreement between Qatar Energy and Total to expand the Northeast LNG sector


Qatar Energy today announced the selection of Total Energy as its first partner in the Northeast Field Expansion Project, the largest single project in the history of the liquefied natural gas sector. More partners are scheduled to join the domain expansion plan after the final terms are agreed, and the “partners will be announced soon,” the Qatari company said.

Qatar Energy said in a statement that the announcement came at the end of a competitive process that began in 2019 to select Qatar’s international energy partners in an expansion plan, following the signing of an agreement with Total Energy in Doha today. Capacity of liquefied natural gas from 77 million tons to 110 million tons per year.

The $ 2875 billion project, which is expected to begin production by the end of 2025, uses the highest standards of hygiene, safety and environment, including carbon capture and deployment, with the aim of reducing the project’s total carbon footprint. Low potential levels.

Under the partnership agreement, Qatar Energy and Total Energy will become shareholders in a joint venture in which Qatar Energy will hold 75% of the shares, with Total Energy owning the remaining 25% and the joint venture holding 25. % Of the Northeast Field Expansion Plan covers four giant LNG production lines with a total capacity of 32 million tons per year.

The agreement was signed at a special ceremony held today at the headquarters of the Qatar Energy Department.

Qatar’s Joint Minister for Energy Saad al-Qabi said, “The Northeast Field Improvement Project is a historic achievement that will enable Qatar to utilize its vast resources, while at the same time providing the world with the clean and reliable energy it needs.”

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For his part, Total Chairman and CEO, Patrick Pouyanneh said: “This is a new historic day for the company in Qatar. , And also contributes to energy conservation in Europe in conjunction with Qatar.

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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