China National Petroleum Corporation, ConocoPhillips, Eni, ExxonMobil, Shell, Sinopec and TotalEnergies are other partners in the NFE.

QatarEnergy has signed a deal with CPC Corporation Taiwan (CPC), encompassing a long-term supply of liquefied natural gas (LNG) to CPC and a strategic partnership in the North Field East (NFE) LNG expansion project.

Under the terms of the agreement, QatarEnergy will deliver an impressive four million tonnes per year (tpy) of LNG from the NFE project to CPC, extending over a period of 27 years.

In a parallel agreement, QatarEnergy has agreed to transfer a five percent interest in one of the NFE project’s trains, boasting a capacity of eight million tonnes per year, to Taiwan’s state-owned oil and gas company.

This strategic move positions CPC as a key partner in the NFE project, facilitating their involvement in its development and expansion.

This transfer of interest will essentially not affect the stakes of any other shareholders involved in the project.

China National Petroleum Corporation, ConocoPhillips, Eni, ExxonMobil, Shell, Sinopec and TotalEnergies are other partners in the NFE.

North Field Expansion project

Qatar has the world’s third-biggest proven natural gas reserves and is on its way to dominate global productions of LNG through its NFE project.

Under the first phase of the project, the biggest of its kind globally, Qatar is raising its LNG production from 77 million tonnes to 110 million tonnes by 2025, representing a 43 percent increase. 

The second part of the project – the biggest of its kind – will ramp up Qatar’s LNG production to 126 million tonnes by 2027.

QatarEnergy began looking into potential partners in 2019, with production expected to start before the end of 2025.

Discovered in 1971, the North Field covers an area of 9,700 square kilometres, of which 6,000 square kilometres are in Qatar’s territorial waters.

The production then kickstarted in 1989, during the time in which oil was the primary source for Qatar’s wealth.