Qatar awards $10bn gas contract to Technip Energies
QatarEnergy announced yesterday the signing of the main engineering, procurement and construction (EPC) contract for the North Field South (NFS) project with Technip Energies and Consolidated Contractors (CCC) at a value of $10 billion
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The company stated in a statement that the project includes two giant lines for the production of liquefied natural gas (LNG), with a total production capacity of 16 million tonnes annually.
In a post on its official Twitter account, QatarEnergy described the signing of the contract as an "important step towards advancing the world's largest LNG expansion."
The project also includes associated facilities for gas processing, natural gas liquids recovery, helium extraction and refining, as well as carbon dioxide capture and storage facilities in Ras Laffan Industrial City.
The project will raise Qatar's production of liquefied natural gas from 77 million tonnes in 2025 to 126 million tonnes annually by 2027, a 60 per cent increase.
QatarEnergy owns a 75 per cent stake in the project, with the remaining shares divided between TotalEnergies, Shell and ConocoPhillips.
Qatar is working to expand its production of gas, for which global demand has increased with the continued Russian war on Ukraine and the sanctions imposed by Europe and the US on the Russian energy sector.
Over the past months, Doha has concluded several agreements to develop its gas fields in an effort to accommodate global demand.
Qatar is the largest exporter of natural gas and the third largest producer after Russia and Iran.
Source: Middle East Monitor under CC BY-NC-SA 4.0
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