In the expansion of the world’s largest liquefied natural gas (LNG) project, Qatar has selected ExxonMobil, TotalEnergies, Shell, and ConocoPhillips as partners, according to sources cited by Reuters.
North Field expansion will increase Qatar’s LNG output by 64% by 2027, which will further cement its position as the world’s top LNG exporter and ensure long-term gas supplies to Europe.
As part of its $30 billion North Field expansion plan, Qatar Energy (QE) has decided to develop the project alone, however, it has invited partners to share the financial risk.
Qatar’s existing LNG producers, the four companies, as well as Chevron and Eni submitted bids in May 2021.
Four sources confirmed Exxon and Total won the project, while one source said Shell and ConocoPhillips will take part.
Despite a decision having been made, a formal announcement of the winners might not come until later this month, one of the sources said.
Approximately 20-25% of the new project will be owned by the four giants, according to one of the sources – a smaller share than their current share in projects, which ranges between 25-35%.
By 2027, Qatar’s liquefaction capacity will increase from 77 million tonnes per annum (mtpa) to 126 mtpa thanks to the North Field Expansion (NFE) plan.
Qatar Energy holds a 70% stake in the Golden Pass LNG project in Louisiana while Exxon holds 30%.
