Informed sources told Archyde.com that Eni will participate with ExxonMobil, Total Energies, Shell and ConocoPhillips in the expansion of the North Field at a cost of regarding $30 billion, which is the largest liquefied natural gas project in the world. .
The expansion will strengthen Qatar’s position as the world’s largest exporter of liquefied natural gas, and will also help ensure long-term supplies of gas to Europe as the continent seeks alternatives to Russian gas.
Earlier, the state-owned Qatar Energy Company announced that it would hold a press conference and signing ceremony on June 12, without specifying the subject.
According to Archyde.com sources, the shares of “Exxon”, “Shell” and “Total” are expected to range between 20 and 25 percent in total when the new project is launched. A second source said that it is likely that each of the three companies will get a gas liquefaction unit when the project is launched, and that Conoco and Eni will share the fourth unit, adding that Qatar Energy has not ruled out a small stake for a Chinese partner.
One of the sources also indicated that the American “Chevron” company, which is actively looking to expand its liquefied natural gas activities, did not get a stake in the project. The North Field expansion plan includes six LNG units, which will raise Qatar’s gas liquefaction capacity from 77 million tons per year to 126 million tons per year by 2027.
