Three New Partners To Join North Field South Development Pro...| MENAFN.COM

Tuesday, 06 December 2022 03:32 GMT

Three New Partners To Join North Field South Development Project: Al-Kaabi


(MENAFN- Gulf Times)

NFS project will further increase Qatar's liquefied natural gas production capacity from 110mn tonnes per year to 126 mtpy by 2026 or 2027 Three new partners will be entering the North Field South (NFS) project in addition to the partner recently announced, HE the Minister of State for Energy Affairs Saad bin Sherida al-Kaabi said and noted they will be announced in due course.
Al-Kaabi revealed this during the Energy Intelligence Forum's 'Energy Executive of the Year Leadership Dialogue' in London.
QatarEnergy's first partner announced in the NFS project is TotalEnergies, which will have an effective net participating interest of 9.375% out of a total 25% interest available for international partners.
QatarEnergy will hold a 75% stake in the NFS project.
NFS project will further increase Qatar's liquefied natural gas production capacity from 110mn tonnes per year to 126 mtpy by 2026 or 2027.
The NFS has many unique features, the foremost of which is its advanced environmental characteristics. This includes significant carbon capture and sequestration technologies and capacity.
Al-Kaabi noted that the North Field East, North Field South, and Golden Pass projects will bring a total of 48mn tonnes of LNG per year, stressing that Qatar alone will bring most of the new LNG volumes between 2025 and 2027.
Speaking on the value of QatarEnergy's international partnerships in these ambitious projects, Minister al-Kaabi said,“The partnership model we are adopting has been very successful in making us what we are today, giving us the ability to develop the best competencies, capabilities, technologies, and marketing support. We are grateful to our all our partners who are working with us hand in hand to reach where we are.”
On net-zero, the minister said that while many countries had made announcements to meet certain targets by certain times, they did not have the plan and/or the will to take that commitment to the finish line.
“As a result, coal-burning is making a comeback more than any other time…putting us many years backwards,” al-Kaabi noted.
Al-Kaabi highlighted Qatar's role in reducing gas emissions and carbon footprint, saying:“His Highness the Amir will inaugurate Al-Kharsaah solar power station later this month, which has a capacity of 800MW, providing our national grid with 10% of local demand. This says quite a lot for a major gas producer.”
“We are the largest Mena country in terms of injecting CO2, as part of our carbon capture and sequestration efforts. We are currently injecting 2.5mn tonnes as we speak, which will grow to over 11mn tonnes of CO2 per annum by 2035,” the minister added.
On energy transition, Minister al-Kaabi called for a responsible transition in which natural gas is a destination fuel accompanied by carbon sequestration and storage as well as methane abatement.

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