The American energy company with an effective stake of 6.25% joins TotalEnergies (9.37%) and Shell (9.37%) in QatarEnergy’s two-train liquefied natural gas project in Qatar, which will have a capacity of 16 million tons per annum of LNG
QatarEnergy selects ConocoPhillips as its third and final partner in NFS project. (Credit: QatarEnergy)
US-based ConocoPhillips has been selected by QatarEnergy as its third and final international partner in the North Field South (NFS) expansion project in Qatar.
ConocoPhillips joins TotalEnergies and Shell in the two-train liquefied natural gas (LNG) project, which will have a capacity of 16 million tons per annum (MTPA).
As per the terms of the agreement, ConocoPhillips will effectively hold a stake of 6.25% in the NFS project. This is out of a 25% stake offered in total by QatarEnergy to its three international partners.
Recently, Shell was given a stake of 9.37% in the midstream project, while TotalEnergies was granted an identical stake by QatarEnergy in September 2022.
The remaining 75% stake in the Qatari LNG project will be held by QatarEnergy.
Qatar Minister of State for Energy Affairs and QatarEnergy CEO 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.
“As we have previously emphasised, 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.”
The NFS project is part of the larger North Field expansion project, which also includes the $28.75bn North Field East (NFE) project. Scheduled to begin production in 2026, the North Field expansion project will have a capacity of 48MTPA.
The North Field expansion project will increase the LNG production capacity of Qatar to 126MTPA.
In June 2022, ConocoPhillips was selected by QatarEnergy as its third partner in the North Field East project, which will have an LNG capacity of 32MTPA. QatarEnergy holds a 25% stake in a joint venture with QatarEnergy that will hold a 12.5% stake in the North Field East LNG project.