TotalEnergies has been awarded a 25% interest in a new joint venture (JV) alongside national company QatarEnergy (75%) in the world’s largest LNG project.
The new JV in the 32 million tons per annum (Mtpa) project, equivalent to one 8 Mtpa LNG train, followed a partnership request for the North Field East (NFE) liquified natural gas project.
The NFE, launched by QatarEnergy in summer 2019, is currently under construction. It is intended to increase Qatar's total LNG export capacity from 77 Mtpa to around 110 Mtpa by 2027, thanks to the construction of four 8 Mtpa trains.
Paying special attention to environmental and climate challenges, the project will apply the highest standards to reduce emissions.
The native CO2 from natural gas production will be captured and sequestrated in a saline aquifer. In addition, the facilities will be connected to the country's electrical grid, which will supply a growing portion of renewable electricity – in line with Qatar’s climate ambitions – thanks to the giant Al Kharsaah solar power plant, which is scheduled to come on stream in 2022, and in which TotalEnergies is a partner.
Patrick Pouyanné, chairman and CEO of TotalEnergies, said: "This is another historic day for TotalEnergies in Qatar, where we have been present for more than 80 years.
“Qatar has huge natural gas resources that it intends to develop further to increase the production of the least expensive, the most environmentally respectful and the best located LNG.
“TotalEnergies was present at the beginning of its LNG industry in Qatar some 30 years ago through its interest in Qatargas 1, and then Qatargas 2 in 2005. We are very proud that Qatar has chosen again TotalEnergies, this time as the first partner for its new major phase of LNG expansion. It is a clear testimony of the profound trust that the teams have developed together, and it will extend our strategic partnership with Qatar and QatarEnergy for more than 25 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. This new partnership will indeed enable us to reinforce our global LNG portfolio and, together with Qatar, it will support our ability to contribute to Europe energy security."
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