Qatar Awards $2bn LNG Storage Deal to Samsung
Qatar Petroleum (QP) has awarded a engineering, procurement and construction (EPC) contract worth over $2bn to South Korea's Samsung C&T to expand LNG storage and offloading facilities in the Qatari city of Ras Laffan as part of the North Field East (NFE) project.
The contract was signed on March 1 by QP CEO and Qatari energy minister Saad Sherida Al-Kaabi and Samsung C&T CEO Oh Se-chul, QP said in a statement. Its scope includes three LNG tanks and options for two more; three LNG loading berths and potentially a fourth; and the associated pipes, lines and loading lines.
QP took a final investment decision on NFE in early February, just after finalising an EPC contract for developing four LNG mega-trains and associated facilities with a joint venture between Japan's Chiyoda and France's Technip Energies. The $29bn project will raise Qatar's liquefaction capacity from 77mn metric tons/year at present to 110mn mt/yr by 2027. A second stage known as North Field South, which is still at the planning phase, is expected to ramp up production to 126mn mt/yr.
"We look forward to working with Samsung to deliver this important component of the North Field Expansion project in a safe, timely and efficient manner," Al-Kaabi said in a statement. "I am delighted that the detailed engineering activities under the contract will take place in Qatar, thus leveraging the growing technical capabilities for the development of major projects in the country."