Tuesday, April 23, 2024

Qatar wins stake in Italy’s largest gas field project (video) | Economic News

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Today, Sunday, the Qatar Energy and Italian Company (NE) signed a joint venture agreement to expand the Northeast Field, the world’s largest liquefied natural gas project.

The announcement comes at the end of a competition launched in 2019 to select Qatar’s international energy partners in the expansion plan, which will increase Qatar’s liquefied natural gas production capacity from 77 million tonnes per annum to 110 million tonnes.

The joint venture with Eni will contribute 12.5% ​​to the expansion of the Northeast sector, said Saad bin Sheridan al-Kafi, an engineer and Minister of State for Energy, Qatar’s Managing Director and Chief Executive Officer. Conference that Eni will hold 25% in the joint venture.

Last Sunday, Qatar Energy signed a similar agreement with a French company (Total Energies) for the 6.25% Northeast Field project.

The amount of investment to expand the productivity of the North Field is $ 28 billion, and the size of the expansion in the project is 32 million tons of liquefied natural gas.

Qatar Energy has announced that it plans to join more partners in the Northeast Field Expansion Project as the final terms are agreed, with other partners to be announced soon.

Qatar Energy, the world’s largest producer of liquefied natural gas, announced in February 2020 that it would increase its production of liquefied gas by about 40% to 110 million tonnes annually by 2026. Natural Gas Project.

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

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