DOHA, QATAR (AP) – State-owned oil and gas company Qatar Energy signed on Saturday a deal with Total Energies for the Northfield South Expansion.
The partnership deal was signed by Qatar’s Energy Minister Saad Sherida al-Kaabi and Total Energies Chief Executive Patrick Pouyanne in Doha, Qatar.
The deal comes at a time when Europe is searching for alternative sources of energy.
The Northfield expansion project is made up of two distinct parts, namely the Northfield East or NFE project, which will increase the state of Qatar’s liquefied natural gas (LNG) production capacity from 77 to 110 million tonnes per annum, and Northfield South or NFS project, which will further increase Qatar’s LNG production capacity from 110 to 126 million tonnes per annum.
Al Kaabi said Total Energies will have an effective net participation interest of 9.375 per cent in the NFS project, out of a total of 25 per cent available for international partner participation, while Qatar Energy will retain 75 per cent interest. Other partners in this project will be announced in due course.
NFS is the world’s largest LNG development, and according to Al Kaabi “enjoys the advanced environmental characteristics, including significant carbon capture and sequestration technologies and capacity”.
In June and July of this year, Qatar Energy and Total Energies made five separate partnership announcements for the NFE project that will cost around USD29 billion to construct.