Doha: QatarEnergy announced yesterday that it has selected ConocoPhillips as a partner in the North Field East (NFE) expansion project, the single largest project in the history of the LNG industry. This is the third in a series of announcements on partnerships in the $28.75bn expansion project.
Minister of State for Energy Affairs, the President and CEO of QatarEnergy H E Saad Sherida Al Kaabi and Chairman and CEO of ConocoPhillips Ryan Lance signed the partnership agreement during a special ceremony held at QatarEnergy’s headquarters in Doha in the presence of senior executives from both companies.
Pursuant to the agreement signed yesterday, QatarEnergy and ConocoPhillips will become partners in a new joint venture company (JV), in which QatarEnergy will hold a 75 percent interest while
ConocoPhillips will hold the remaining 25 percent interest. The JV in turn will own 12.5 percent of the entire NFE project, which has a total LNG capacity of 32 million tonnes per annum.
Addressing the event, Minister Al Kaabi said, “Today, we sign a new partnership agreement that will further enhance our relationship and enable us to benefit from the wide experience of ConocoPhillips in the development of the world’s largest LNG expansion project. Our work together will enable us to meet our target of increasing the State of Qatar’s LNG production capacity from 77 to 110 million tonnes per annum through the North Field East project, which will start production in 2026.
“Our collaboration will help produce cleaner energy to meet growing global demand and achieve a realistic energy transition towards achieving our climate change objectives thanks to the project’s industry-leading environmental attributes, including carbon capture and sequestration and other technologies deployed in this project. I would like to thank the Amir H H Sheikh Tamim bin Hamad Al Thani for his wise leadership and for his unwavering support to Qatar’s energy sector,” the Minister added.
To more clearly explain all the production streams from NFE 4 trains, the Minister also explained: “I would like to give you some clear expected production figures for reference, we will have 32.6 million tonnes per annum (mtpa) of LNG, 1.5 mtpa of Ethane, 4 mtpa of LPG, 250,000 bbl/d of condensate, and 5,000 tonnes per annum of helium.
Also speaking during the event, Lance said: “ConocoPhillips is delighted to build on our long history of partnering with QatarEnergy and participate in this next phase of development of Qatar’s North Field. We recognise that LNG plays an increasingly important role in energy security and the global energy transition,” he added.
The NFE project employs the highest health, safety, and environmental standards, including carbon capture and sequestration, to reduce the project’s overall carbon footprint to the lowest levels possible. More partners are slated to join the NFE Project, and the relevant announcements will be made soon.
