QatarEnergy adds ExxonMobil as North Field East expansion partner
June 21, 2022
QatarEnergy has signed another partner, ExxonMobil, to further develop Qatar’s North Field East project, which will expand Qatar’s annual LNG capacity to 110 million tonnes/year (tpy) from 77 million tpy by 2026.
With North Field East, ExxonMobil’s participation in Qatar LNG volumes is expected to increase total capacity to 60 million tpy from 52 million tpy, ExxonMobil said in a release June 21.
Under the terms of the agreement, the companies will partner in a new joint venture company (JV), in which QatarEnergy will hold a 75% interest and ExxonMobil will hold 25%. The JV will own 25% of the entire North Field East project, including four LNG trains with a combined nameplate capacity of 32 million tpy.
The deal follows separate agreements struck with Eni and ConocoPhillips in recent days to advance the $28.75 billion project (OGJ Online, June 20, 2022).
QatarEnergy is operator and commenced the North Field East project in 2019. First LNG from North Field East is expected in 2026.