Energy Shell announced today, Tuesday, the signing of an agreement with the Qatari oil and gas company, Qatar Energy, on a major project for liquefied natural gas in the Northeast Field.
The signing ceremony was held in Doha, in the presence of Shell CEO Ben van Beurden and Qatar’s Minister of State for Energy Saad Al Kaabi.
The Qatari company said after that: “Qatar Energy has signed an agreement with the fourth international partner – the Shell Group, which will acquire a 6.25% stake in the development of part of the North East Field, the cost of developing it is about $28.75 billion.”
The Northeast Field project, the world’s largest LNG project, will increase Qatar’s LNG production capacity from 77 million tons per year to 110 million tons per year. Production is expected to begin in 2026. ExxonMobil, TotalEnergies, ConocoPhillips and Eni are partners in the project.
Qatar Energy controls all components of the oil sector in Qatar, including exploration, production, refining, transportation and storage. Qatar is the largest producer of liquefied natural gas in the world. In 2017, it lifted a moratorium imposed in 2005 on the development of the North Gas Field, located northeast of its coast. This is part of the large South Pars field, and the other part of it is being developed by Iran.
Shell is a global group of energy and petrochemical companies operating in more than 70 countries.
Shell signs agreement with Qatar Energy
