TotalEnergies joins Qatar LNG expansion project
DOHA, September 27, 2022 – TotalEnergies has been chosen by NOC QatarEnergy as the first international partner on its North Field South LNG project, the French super-major announced on Saturday.
Under the deal, TotalEnergies will acquire a 9.375% stake in the 16-million-tonnes-per-year project of the total 25% shares available for foreign parties. QatarEnergy will hold the remaining 75%.
Cost of the acquisition was not disclosed.
The move follows TotalEnergies joining in on the NOC’s North Field East LNG project in June 2022, all part of the greater USD 50-billion North Field expansion development.
The North Field East LNG project will ramp up Qatar’s LNG production capacity to 110 million tonnes per year of LNG by 2026, while the following North Field South LNG project will boost production to 126 million tonnes per year. The country currently has the capacity to produce 77 million tonnes per year of LNG.