Qatar’s LNG expansion offers a lifeline to majors’ global portfolios

OPINION: TotalEnergies this week became the first Western energy giant to join QatarEnergy’s 32 million tonnes per annum North Field East (NFE) liquefied natural gas project.

The French supermajor, via a joint venture with QatarEnergy, will hold a 25% interest in one of the four 8 million tpa mega-trains, which equates to around a 6.25% stake in NFE.

This will provide welcome boost for the French company’s global LNG portfolio after its withdrawal from the Arctic LNG 2 project in Russia following Moscow’s invasion of Ukraine.