Doha: QatarEnergy has announced that it has selected Eni as a partner for the Northfield East (NFE) expansion project, the largest project in the history of the LNG industry.
The announcement marks the second partnership of the $ 28.75 billion NFE megaproject to expand Qatar’s LNG production capacity from the current 77 million tonnes (MTPA) per year to 110 MTPA. This expansion will allow Qatar to increase its position as the world’s top LNG exporter.
The partnership agreement is between Saad Sherida Al-Kaabi, QatarEnergy Minister’s President and Chief Executive Officer, and Claudio Descalzi, Eni’s Chief Executive Officer, at the headquarters of the QatarEnergy Company in Doha. Signed in the presence of senior executives from both companies.
Under the agreement, QatarEnergy and Eni will become partners in a new joint venture (JV), with QatarEnergy holding a 75% stake and Eni holding the remaining 25% stake. JV owns 12.5% ​​of the total NFE project, with a total nameplate capacity of 32 MTPA for its 4 mega LNG train.
In his remarks at the ceremony, Minister Alkavi emphasized the relationship between QatarEnergy’s state-owned oil company and Anyi, saying: This agreement will strengthen mutual cooperation over the next few decades. This is an important addition to a series of partnerships with Eni, including upstream exploration projects in many parts of the world, as QatarEnergy’s state-owned oil company expands its international footprint. “
This is Eni’s first entry into the upstream sector of Qatar. Qatar Energy and Eni are partners in oil and gas projects in Oman, Mexico, Morocco, Mozambique and Kenya.
“As newcomers to this world-leading LNG project, we feel the privilege and responsibility of being selected as a strategic partner in Qatar. This agreement is an important milestone for Eni and is cleaner and cleaner. It meets our goal of diversifying into something reliable. An energy source in line with our decarbonization strategy, “Descardi said.
More partners will be participating in the NFE project and related announcements will be made shortly.
Oil majors are bidding on four trains, or liquefaction and purification facilities. TotalEnergies said it has 25% of one virtual train and accounts for about 6.25% of four virtual trains.
Overall, the Northfield Expansion Program includes six LNG trains that will increase Qatar’s liquefaction capacity from 77 million tonnes (mtpa) annually to 126 mtpa by 2027. The 5th and 6th trains are part of Phase 2 Northfield South.
Once the investment is complete, Asian buyers are expected to occupy half of the project’s market and the rest to European buyers.
