US energy giant ConocoPhillips has come on board as the third international partner in QatarEnergy’s North Field South (NFS) liquefied natural gas scheme — the second phase of the emirate’s massive LNG expansion programme.
The Qatari state-owned giant on Sunday confirmed the development and said that ConocoPhillips has been chosen “as its third and final international partner” in the NFS project, which comprises two LNG mega-trains with a combined capacity of 16 million tonnes per annum.
“Pursuant to the agreement, ConocoPhillips will have an effective net participating interest of 6.25% in the NFS project, out of a 25% interest available for international partners. QatarEnergy will hold the remaining 75% interest,” the operator said.
UK supermajor Shell and French giant TotalEnergies were recently awarded key stakes in the NFS project.
The NFS expansion project will increase Qatar’s total nameplate liquefaction capacity to 126 million tpa.
The emirate currently has a liquefaction capacity of 77 million tpa that is currently being expanded to 110 million tpa through the North Field East expansion scheme.
The two expansion phases at the giant North Field are expected to together cost up to $50 billion and are aimed at maintaining Qatar’s dominance as the largest LNG exporter.
Saad Sherida Al-Kaabi, QatarEnergy chief executive, said the company and its partners aim to supply an additional volume of about "65 million tonnes of LNG annually, from its North Field Expansion projects and the Golden Pass LNG project to the global market to meet the growing demand for cleaner, low-carbon energy”.
“As we have previously emphasised, LNG produced from the North Field Expansion projects will have the lowest carbon emission levels in the world,” Al-Kaabi noted.
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