QatarEnergy has selected France’s TotalEnergies as its first international partner in the North Field East LNG expansion project, as the Gulf State steps on the gas to monopolise global supplies.
That’s according to data and analytics company GlobalData, who commented on the latest deal: “Securing a reliable international investor such as TotalEnergies could not have come at a more opportune time for Qatar, as the Gulf state works to cement its position as a reliable partner for gas supply to Europe amid the current energy crisis,” said Indrajit Sen, Oil & Gas Editor at MEED,
“QatarEnergy has set itself a target of expanding its LNG capacity by over 60%, from 77.5 million tonnes a year (t/y) to 126 million t/y by 2027. This will be undertaken in two phases through the North Field East and North Field South projects.
“The state enterprise has also allocated significant capital expenditure towards sustaining gas production from the giant North Field offshore gas reserve, to support incremental LNG production in the long-term. Alongside, QatarEnergy is also making progress with a major $19 billion shipbuilding programme to augment its LNG transport capabilities.
“Investments from major international energy companies in its ambitious LNG production capacity projects helps Qatar de-risk its investments in the masterplan, as well as bring in international expertise vital for long-term operational efficiency of the sprawling LNG infrastructure.”