QatarEnergy announced that it has selected ConocoPhillips to be its third and final international partner in the North Field South (NFS) expansion project, which comprises two LNG mega trains with a combined capacity of 16 million tons per annum (MTPA).
According to the agreement, ConocoPhillips will have an effective net participating interest of 6.25% in the NFS project, out of a 25% interest available for international partners while QatarEnergy will hold the remaining 75% interest.
Speaking at the signing ceremony, Qatar’s Minister of Energy, Saad Sherida Al-Kaabi, said: “QatarEnergy and its partners continue their efforts to supply an additional volume of about 65 million tons of LNG annually, from its North Field Expansion Projects and the Golden Pass LNG Project, to the global market to meet growing demand for cleaner, low-carbon energy, and to enhance energy security of customers around the world.”
“As we have previously emphasized, LNG produced from the North Field Expansion Projects will have the lowest carbon emission levels in the world, thanks to the deployment of a number of technologies, including extensive use of carbon capture and sequestration technologies. This will enable our LNG to play an important role in supporting a pragmatic, equitable and realistic energy transition,” he affirmed.
The North Field Expansion Projects will start production in 2026 and will add more than 48 MTPA to the world’s LNG supplies, and raise Qatar’s LNG production capacity to 126 MTPA.