QatarEnergy, a state-owned petroleum company in Qatar, has selected TotalEnergies to become its first international partner in a new project to produce liquefied natural gas (LNG) from the country’s North Field South (NFS) resource. The company had already been chosen as the first international partner in the North Field East (NFE) LNG project.
While QatarEnergy will remain the dominant stakeholder in the project with a 75% share, the remaining 25% has been made available for multinational partners. Under the new agreement, TotalEnergies will purchase a 9.375% stake in the project, which is expected to produce 16 million tons per annum (Mtpa) of LNG.
TotalEnergies, which makes the popular Total lubricant and metalworking products, currently has a goal to increase the portion of natural gas in its sales mix to 50% by 2030. Its stakes in NFS and NFE will add a combined 3.5 million tons per annum (Mtpa) of LNG production to its global portfolio.
TotalEnergies’ CEO and chairman, Patrick Pouyanné, expressed his company’s pride at being selected by Qatar, adding that Qatar was:
“…a long-term strategic country for TotalEnergies and this latest addition to our portfolio marks an important step toward our low-carbon LNG growth objectives, a key pillar of TotalEnergies’ transformation into a sustainable multi-energy company. It will also further strengthen our ability, together with Qatar, to support Europe’s energy security.”
The project will combine upstream and downstream elements, with 50 wells on five platforms pumping natural gas to two liquefaction trains, each with a capacity of 8 Mtpa.
