Reuters reported earlier this month that some of the other companies include ExxonMobil, Shell, as well as Chinese state energy companies.
QatarEnergy has named US energy company ConocoPhillips as its latest partner in the North Field East (NFE) Project during a signing ceremony in Doha on Monday.
The announcement was made in a joint press conference between QatarEnergy CEO Saad Sherida Al-Kaabi, and Chairman and Chief Executive Officer of ConocoPhillips Ryan Lance.
“Our collaboration will help produce cleaner energy to meet growing global demand and achieve a realistic energy transition towards achieving our climate change objectives,” said Al-Kaabi, who is also Qatar’s Minister of State for Energy Affairs.
Under the joint venture (JV), ConocoPhillips will own 12.5% in the NFE project. The US company is also the third partner in the major project, joining France’s TotalEnergies and Italy’s Eni.
The French company was named the first partner last week, followed by the Italian company. The partnership marked a milestone for Eni, as it is the company’s first ever entry in the upstream sector in Qatar.
The NFE is one of two parts of the $28.75 billion North Field liquified natural gas (LNG) expansion project that is set to ramp up Qatar’s production from 77 to 110 million tonnes per annum.
The second part is the North Field South (NFS) project which will increase Qatar’s LNG production capacity from 110 to 126 million tonnes per annum (MTPA).
QatarEnergy began looking into potential partners in 2019 for the major project, with production expected to start before the end of 2025. Last week, Al-Kaabi said that more partners will be announced in the coming days.
Al-Kaabi told the press that the partnerships will last for 27 years, without revealing the total number of companies expected to sign for the NFE.
Reuters reported earlier this month that some of the other companies include ExxonMobil, Shell, as well as Chinese state energy companies.
Beyond the NFE, QatarEnergy and ConocoPhillips hold various other agreements.
In 2003, the two companies signed a Heads of Agreement to develop Qatargas 3, a project that involved the construction of a new LNG mega-train with a capacity of 7.8 mtpa. Production for that project started in November 2010.
