Tuesday, November 29, 2022

TotalEnergies is Qatar’s first partner in mega North Field South LNG project

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TotalEnergies said it has again been selected by QatarEnergy to partner in a mega liquefied natural gas (LNG) project.

The energy major had been chosen as the first partner for the 32 million ton per annum (Mtpa) North Field East (NFE) LNG project earlier this year.

This time, TotalEnergies will partner with the Qatari energy company in the 16 Mtpa North Field South (NFS) project. TotalEnergies will obtain a 9.375% participating interest in NFS – out of a total 25% interest available for international partners – while QatarEnergy will hold the remaining 75%.

At the signing ceremony, Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies, said: “Following North Field East, we are truly honoured and proud that Qatar has once again chosen TotalEnergies to be QatarEnergy’s first partner in North Field South. The State of Qatar’s ambitious leadership in further developing its natural gas resources through this expansion project, which ranks among the world’s most competitive in terms of costs and low emissions, will make a major contribution to increasing LNG supply in the years to come.”

TotalEnergies said, through its combined participating interests in NFE (6.25%) and NFS, it will add 3.5 Mtpa of LNG production to its worldwide LNG portfolio by 2028, in line its objective to increase the share of natural gas in its sales mix to 50% by 2030.

Together, NFE and NFS form the wider North Field Expansion project to increase LNG production from the North Field, adding 48 Mtpa to Qatar’s export capacity and bringing it to 126 Mtpa by 2028. The upstream part of the project will develop the southern area of the North Field with five platforms, 50 wells and gas pipelines to the onshore processing plant. Downstream, there will be two 8 Mtpa liquefaction trains. Total said NFS will benefit from significant synergies with NFE, making it one of the most cost-competitive LNG projects worldwide.

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Both NFE and NFS are being designed with the application of the highest standards to reduce greenhouse gas (GHG) emissions intensity.

The partners plan to capture and sequester native carbon dioxide (CO2) from natural gas production.

The plant will also be connected to Qatar’s electrical grid, which will supply it with a growing portion of renewable electricity from the 800 megawatts (MW) Al Kharsaah solar power plant project, in which TotalEnergies is a partner. The plant will also benefit from solar energy from a plant currently under construction in the Qatari industrial city of Ras Laffan, with TotalEnergies’ support.

In his remarks during the signing ceremony, Qatar Minister of State for Energy Affairs, the President and CEO of QatarEnergy, Saad Sherida Al-Kaabi, said: “QatarEnergy is moving forward, with the support of our partners, to help meet growing global demand for cleaner energy, of which LNG is the backbone for a serious and realistic energy transition.”

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