TotalEnergies selected as QatarEnergy’s first partner as part LNG project
This follows its selection as the first partner for the 32 million ton per annum (Mtpa) North Field East (NFE) liquefied natural gas (LNG) project.
TotalEnergies will obtain a 9.375% participating interest in the NFS project – out of a total 25% interest available for international partners – while the national company QatarEnergy will hold the remaining 75%.
Through its combined participating interests in NFE (6.25%) and NFS, TotalEnergies will add 3.5 Mtpa of LNG production to its growing worldwide LNG portfolio by 2028, in line with the Company’s objective to increase the share of natural gas in its sales mix to 50% by 2030.
Patrick Pouyanné, chairman and chief executive officer of TotalEnergies, said: "Following North Field East, we are truly honored and proud that Qatar has once again chosen TotalEnergies to be QatarEnergy’s first partner in North Field South.
“The State of Qatar’s ambitious leadership in further developing its natural gas resources through this expansion project, which ranks among the world's most competitive in terms of costs and low emissions, will make a major contribution to increasing LNG supply in the years to come. It will also further strengthen our ability, together with Qatar, to support Europe’s energy security."
Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the president and CEO of QatarEnergy, said: “QatarEnergy is moving forward, with the support of our partners, to help meet growing global demand for cleaner energy, of which LNG is the backbone for a serious and realistic energy transition. We are committing significant investments to lower the carbon intensity of our energy products, which constitutes a key pillar of QatarEnergy’s sustainability and energy transition strategy. I am pleased to welcome TotalEnergies yet again to our flagship LNG projects. I would like to thank Mr. Patrick Pouyanné, Chairman of the Board and CEO of TotalEnergies for his leadership and continued efforts to further strengthen our long-term partnership.”