Doha: QatarEnergy, the world’s leading LNG producer with its tagline ‘your energy transition partner’, is set to deliver a number of energy projects with a total value of about $80-100bn in the next seven years, it was revealed yesterday.
Addressing a press conference to announce the selection of Eni as the second international partner in the mega North Field East (NFE) expansion project, Minister of State for Energy Affairs, the President and CEO of QatarEnergy H E Saad Sherida Al Kaabi also said that QatarEnergy will soon announce a new solar project and another major petrochemicals project. He also reiterated the significant role to be played by the private sector in the various QatarEnergy projects.
To date, some of the major projects being implemented by QatarEnergy include the $28.75bn NFE expansion project which has four LNG trains.
“The North Field South (NFS) expansion project is now in the final phases of engineering, and we’ll start the awarding (of the tenders) in the first quarter of next year. (Combined with the NFE project), that’s over $50bn of investments there. We have also previously announced early site works for petrochemical project for about $8bn with Chevron Phillips (CP) Chemical,” Minister Al Kaabi said.
He added that QatarEnergy will also make the big announcement on a new petrochemicals project this week.
“We have four announcements this week in five days. Three partnerships in gas, and one in petrochemicals. So if you add all these projects, and if you add the electricity sector, where we’re also going to be announcing another solar project for QatarEnergy; if we look at these collectively, we’re talking about $80-100bn of investments for the next seven years. If we look at all that, definitely we’re going to need the private sector if you upgrade and deliver more, whether in the real estate market, services, or logistics and so on. It’s going to help the economy. And after all this construction is over, it will greatly enhance the GDP of the country with total revenue received,” Minister Al Kaabi added.
