International

Shell takes 6.25% stake in Qatar’s LNG expansion project

Published on : 2022-07-05

State-owned QatarEnergy signed a deal with Shell Plc on Tuesday for the North Field East (NFE) expansion of the world's largest liquefied natural gas (LNG) project. The London-based company will get a 6.25 percent holding in the project, QatarEnergy CEO Saad al-Kaabi told a news conference.

Qatar, the world's largest gas exporter, is partnering with international companies in its $30 billion NFE expansion (NFE), which includes plans to add six LNG trains, ramping up production by 64 percent to 126 million tonnes per annum (mtpa) in the next five years.

The planned output expansion comes amid a global energy crunch. Demand for LNG has soared since the Russian invasion of Ukraine and European gas companies are looking to tie up new sources before winter sets in.

In June, QatarEnergy awarded TotalEnergies a 25 percent interest in a new joint venture, which will hold a quarter share of the 32 Mtpa NFE project, equivalent to one 8 Mtpa LNG train. It has also signed similar deals with Exxon Mobil Corp., ConocoPhillips and Eni SpA.

Egyptian Investors Join Mauritania in $1.3 Billion Gas Development Partnership

Mauritanian Minister of Petroleum, Mines, and Energy Nani Ould Chrougha, has signed an exploration-production contract for the development of the Banda gas field in Mauritania with the Taqa Arabia Go Gas Consortium.

TechnipFMC Secures Whiptail Project Contract with ExxonMobil Guyana

TechnipFMC has been awarded a contract by ExxonMobil Guyana Limited for the Whiptail project in Guyana Stabroek Block

Fadhili Gas Plant Expansion: Aramco Awards $7.7 Billion in EPC Contracts

Aramco Grants $7.7 Billion in EPC Contracts for Fadhili Gas Plant Expansion in Saudi ArabiaSaudi Aramco has recently awarded engineering, procurement, and construction (EPC) contracts worth $7.7 billion to facilitate a significant expansion of the Fadhili Gas Plant located in the Eastern Province of Saudi Arabia.