Arab Finance: The state-owned company QatarEnergy has awarded a 25% interest in a new joint-venture (JV) in the North Field East (NFE) liquified natural gas (LNG) project to France’s TotalEnergies, according to a company statement on June 12th.
The new JV controls 25% of the NFE project which has a total production capacity of 32 million tons per annum (mtpa).
Launched in 2019, the NFE is planned to boost Qatar’s total LNG export capacity to 110 mtpa by 2027 from 77 mtpa.
It will include four 8-mtpa trains. The southeastern area of the project will include 8 platforms, 80 wells, and gas pipelines.
An LNG train is a liquefied natural gas plant's liquefaction and purification facility.
Moreover, the mega project will apply the highest standards for reducing carbon emissions. Facilities will be linked to Qatar’s electrical grid to supply renewable electricity.
“Qatar has huge natural gas resources that it intends to develop further to increase the production of the least expensive, the most environmentally respectful and the best-located LNG,” Chairman and CEO of TotalEnergies Patrick Pouyanné commented.