TotalEnergies has been awarded a 25% interest in a new liquefied natural gas (LNG) joint venture with Qatar’s state-owned company QatarEnergy.
The $28.7 billion (£23.4bn) North Field East, launched by QatarEnergy in 2019, is currently under construction.
It is predicted to increase Qatar’s total LNG export capacity from 77 million tonnes per annum (Mtpa) to around 110Mtpa by 2027,
Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies, said: “This is another historic day for TotalEnergies in Qatar, where we have been present for more than 80 years.
“It is good news for the fight against climate change as gas and LNG are key to support the energy transition, and notably the shift from coal to gas in many countries. With its low costs and low greenhouse gas emissions – thanks to carbon capture and storage – the North Field expansion will be an exemplary and major contribution to our low carbon LNG growth strategy.”
His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and Chief Executive Officer of QatarEnergy, said: “This is a historic landmark for Qatar’s energy industry and for the world’s largest LNG development.
“The North Field East project is an iconic achievement that will not only ensure the optimal utilisation of Qatar’s natural resources but will also provide the world with the cleaner and more reliable energy it needs.”