(MENAFN- Gulf Times)
* The NFS project, which comprises two LNG mega trains with a combined capacity of 16mn tons per year (MTPY), will raise Qatar's total LNG export capacity to 126 MTPY
QatarEnergy announced that it has selected TotalEnergies as the first international partner in the multi-billion dollar North Field South (NFS) expansion project.
The NFS project, which comprises two LNG mega trains with a combined capacity of 16mn tons per year (MTPY), will raise Qatar's total LNG export capacity to 126 MTPY.
The partnership agreement was signed by HE the Minister of State for Energy Affairs, Saad Sherida al-Kaabi, also President and CEO of QatarEnergy and Patrick Pouyanné, chairman of the Board and CEO of TotalEnergies, during a ceremony held Saturday at QatarEnergy's headquarters at West Bay and attended by senior executives from both companies.
Pursuant to the agreement, TotalEnergies will have an effective net participating interest of 9.375% in the NFS project (out of a total 25% interest available for international partners) while QatarEnergy will hold a 75% interest.
Minister al-Kaabi said,“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.”
“We will continue our efforts to power lives in every corner of the world for a better tomorrow for all,” al-Kaabi added.
Al-Kaabi welcomed TotalEnergies to this new project and said,“I am pleased to welcome TotalEnergies yet again as a partner in our flagship LNG projects. With this agreement, we see an enhanced position for TotalEnergies as a long-term strategic partner for QatarEnergy.'
“I would like to thank the working teams at QatarEnergy and TotalEnergies for their excellent cooperation that led to this agreement. I also would like to thank the Qatargas leadership and project teams for their efforts in implementing the North Field expansion projects on schedule, and with an outstanding safety record. Most importantly, we are forever grateful to the wise leadership of His Highness the Amir, Sheikh Tamim bin Hamad al- Thani and for his unlimited support of Qatar's energy sector,” al-Kaabi noted.
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 48MTPY to the world's LNG supplies. Five partnership agreements have been signed in June and July this year covering the NFE project, which comprises four mega LNG trains with a combined capacity of 32MTPY.
'Most project contracts have been awarded, while the onshore EPC contract is expected to be awarded in early 2023,' al-Kaabi noted.
This unique project is characterised by the highest health, safety, and environmental standards, including carbon capture and sequestration, to reduce the project's overall carbon footprint to the lowest levels possible.
Other partners in the NFS project will be announced in due course, al-Kaabi added.
Last updated: September 24 2022 08:13 PM
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.