Shell gets stake in Qatar's NFS project
QatarEnergy has selected Shell as its second international partner in the North Field South (NFS) expansion project, the state-owned company said on October 23.
The project comprises two LNG trains that will have a combined capacity of 16mn metric tons/year and which will raise Qatar’s total LNG production capacity to 126mn mt/yr.
Shell will have a net participating interest of 9.375% in the NFS project, out of the 25% interest available for international partners. QatarEnergy will hold the remaining 75% interest. France’s TotalEnergies was selected as the first international partner in the project. A third partnership will be announced in due course, the company said.
The North Field Expansion project comprises NFS and the North Field East (NFE) expansion projects. It will start production in 2026 and add more than 48mn mt/yr to the world’s LNG supplies, QatarEnergy said.
"The new LNG volumes, which Qatar will bring to the market, come at a time when natural gas assumes greater importance in light of recent geopolitical turmoil, and amidst the dire need for cleaner energy to meet global environmental objectives," QatarEnergy CEO Saad Sherida al-Kaabi said. "These volumes are a welcome addition given the increasing global concern not just over energy security, but also over a pragmatic energy transition, as well as fair and equitable access to cleaner energy."