QatarEnergy on Saturday announced that it has selected TotalEnergies as the first international partner in the North Field South (NFS) expansion project.
The NFS project, which comprises two LNG mega trains with a combined capacity of 16 million tonnes per annum (MTPA), will raise Qatar’s total LNG export capacity to 126 MTPA.
The partnership agreement was signed by Minister of State for Energy Affairs and QatarEnergy President and CEO HE Saad Sherida Al Kaabi and TotalEnergies Chairman and CEO Patrick Pouyanne during a ceremony held at QatarEnergy’s headquarters in Doha.
Pursuant to the agreement, TotalEnergies will have an effective net participating interest of 9.375 percent in the NFS project out of a total 25 percent interest available for international partners, while QatarEnergy will hold a 75 percent interest.
“QatarEnergy is moving forward 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,” Al Kaabi said.
“We will continue our efforts to power lives in every corner of the world for a better tomorrow for all,” he said.
Welcoming TotalEnergies to the new project, he said, “I am pleased to welcome TotalEnergies yet again as a partner in our flagship LNG projects.”
Other partners in the NFS project will be announced in due course, he said, adding that the cost of the NFS project cannot be estimated at this time as other deals for the projects are yet to be finalised.
“While we are clear that the North Field East (NFE) project for which we met in June and July of this year in five separate partnership announcements will cost around $29 billion to construct, the cost for NFS project will be clear once we sign all the agreements,” he said,
The North Field Expansion Project, comprising NFS and the North Field East (NFE) expansion projects, is the industry’s largest ever LNG project. It will start production in 2026 and will add more than 48 MTPA to the world’s LNG supplies.
