Mr. Ryan Lance & HE Saad Sherida Al Kaabi at agreement signing ceremony
QatarEnergy has selected ConocoPhillips, Alaska’s largest crude oil producer, as its third and final international partner in the North Field South (NFS) expansion project, which comprises two LNG mega trains with a combined capacity of 16 million tons per annum (mtpa).
The partnership agreement was signed by H E Saad Sherida Al Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and Mr. Ryan Lance, the Chairman and CEO of ConocoPhillips, during a ceremony held at QatarEnergy’s headquarters in Doha and attended by senior executives from both companies.
Under the agreement, ConocoPhillips will have an effective net participating interest of 6.25 percent in the NFS project, out of a 25 percent interest available for international partners. QatarEnergy will hold the remaining 75 percent interest.
Saad Sherida Al Kaabi President & CEO QatarEnergy
“QatarEnergy and its partners continue their efforts to supply an additional volume of about 65 million tons of LNG annually, from its North Field Expansion Projects and the Golden Pass LNG Project, to the global market to meet the growing demand for cleaner, low-carbon energy, and to enhance the energy security of customers around the world. This will enable our LNG to play an important role in supporting a pragmatic, equitable and realistic energy transition.”
The Minister welcomed ConocoPhillips to the NFS project and thanked the working teams at QatarEnergy and ConocoPhillips for their excellent work and cooperation that led to this agreement, and to the Qatargas leadership and project teams for their efforts in implementing the North Field Expansion Projects safely, and on schedule.
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