Yesterday, the Minister for Energy Affairs, the President and CEO of QatarEnergy, and the Chairman and CEO of ExxonMobil Darren Woods, were present in the presence of senior executives from both sides. I signed it.
Doha: QatarEnergy announced yesterday that it has selected ExxonMobil as the fourth international partner for the Northfield East (NFE) expansion project, the largest project in the history of the LNG industry.
A special ceremony was held at the headquarters of QatarEnergy Company, with Saad Sherida Al Kaabi, Minister of Energy Affairs, President and Chief Executive Officer of QatarEnergy Company, and Darren Woods, Chairman and Chief Executive Officer of ExxonMobil. Signed the partnership. An agreement in the presence of senior management on both sides.
The agreement provides for a new joint venture (JV) in which QatarEnergy Company holds a 75% stake and ExxonMobil holds the remaining 25% stake. The new JV owns 25% of the total NFE project. This includes a 4 mega LNG train with a total LNG capacity of 32 million tonnes (mtpa) per year.
Regarding this event, Minister Alkavi said: “Today we are signing a partnership agreement with ExxonMobil, a strategic and long-term partner who has built successful and fruitful relationships in Qatar and around the world. This is primarily mutual trust and trust between the parties. , And due to the safe and stable investment environment of Qatar. ”
Minister Al Kirby said: “In addition to the many energy partnerships in Qatar, we are working with ExxonMobil in the upstream exploration sector in many parts of the world. Qatar’s state-owned oil company has a portfolio of energy projects in Qatar and beyond. As we are implementing our expanding strategy, we are also working closely with the implementation of the Golden Pass LNG Export Project in Texas.
“We are working closely with ExxonMobil to carry out this global project and empower our lives with cleaner energy in every corner of the world for a better tomorrow for all. We look forward to fulfilling our commitment. Thanks to His Majesty Amir Sheikh Tamim bin Hamad al-Tani for his wise leadership and unwavering support for Qatar’s energy sector. I want to, “he added.
In a speech during the event, Darren Woods said: This is an important milestone in long-standing relationships with Qatar and QatarEnergy, which continue to advance global LNG leadership.
“We have found that access to cleaner, more reliable, affordable and cleaner energy is essential than ever before. ExxonMobil and QatarEnergy ensure the energy the world needs. And we share our commitment to supply responsibly. We look forward to strengthening our relationship with QatarEnergy through the Northfield expansion, which is a richer, more reliable and cleaner energy source. We look forward to continuing our partnership to bring the future, “Woods added.
The $ 28.75 billion NFE project will expand Qatar’s LNG export capacity from the current 77 million tonnes (mtpa) annually to 110 mtpa. Scheduled to begin production in 2026, it will adopt the highest health, safety, and environmental standards, including carbon recovery and sequestration, to reduce the project’s overall carbon dioxide emissions to the lowest possible levels. doing.