QatarEnergy has selected ConocoPhillips as its third and final international partner in the North Field South (NFS) expansion project. The project comprises two LNG mega trains with a combined capacity of 16 million tons per annum (MTPA).
The partnership agreement was signed today by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and Ryan Lance, the Chairman and CEO of ConocoPhillips, during a ceremony held at QatarEnergy’s headquarters in Doha and attended by senior executives from both companies.
According to the agreement, ConocoPhillips will have a net interest of 6.25 percent in the NFS project, out of a total of 25 percent that is available for international partners. QatarEnergy will hold the remaining 75% interest.
Saad Sherida Al-Kaabi, said: “QatarEnergy and its partners continue their efforts to supply an additional volume of about 65 million tons of LNG annually, from its North Field Expansion Projects and the Golden Pass LNG Project, to the global market to meet growing demand for cleaner, low-carbon energy, and to enhance energy security of customers around the world.”
Al-Kaabi added: “As we have previously emphasized, LNG produced from the North Field Expansion Projects will have the lowest carbon emission levels in the world, thanks to the deployment of a number of technologies, including extensive use of carbon capture and sequestration technologies. This will enable our LNG to play an important role in supporting a pragmatic, equitable, and realistic energy transition.”
According to QatarEnergy, the North Field Expansion Projects, comprising NFS and the North Field East (NFE) expansion projects, is the industry’s largest ever LNG project. It will start production in 2026 and will add more than 48 MTPA to the world’s LNG supplies, and raise Qatar’s LNG production capacity to 126 MTPA.
QatarEnergy recently signed agreements with Shell and TotalEnergies for NFS participation. TotalEnergies will have have a 9.375 percent stake and Shell will have Shell will have a 9.3 percent share of the project.
The North Field is a part of the world's largest offshore gas field that Qatar shares with Iran. Iran calls its share of the field South Pars.