Mr. Ben van Beurden & Mr. Saad Sherida Al Kaabi at agreement signing ceremony
QatarEnergy, a state-owned petroleum company, has selected Shell, a global energy company, as its second international partner in the North Field South (NFS) expansion project.
The project comprises 2 liquified natural gas (LNG) mega trains that will have a combined capacity of 16 million tons per annum (MTPA) and which will raise Qatar’s total LNG production capacity to 126 MTPA.
The partnership agreement was signed by the Minister of State for Energy Affairs, President and CEO of QatarEnergy HE Saad Sherida Al Kaabi, and the CEO of Shell, Mr. Ben van Beurden, during a ceremony at QatarEnergy’s headquarters in Doha attended by senior executives from both companies.
Under the agreement, Shell will have an effective net participating interest of 9.375 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 Qatar Minister of State for Energy Affairs President & CEO QatarEnergy
“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. 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. We welcome Shell to the NFS expansion project and thank the working teams at QatarEnergy and Shell for their excellent cooperation that led to this agreement.”
The North Field Expansion Project, comprising NFS and the NFE expansion projects, is the industry’s largest-ever LNG project. It will start production in 2026 and will add more than 48 MTPA to the world’s LNG supplies by 2027.
This unique project is characterized by the highest health, safety, and environmental standards, including carbon capture and sequestration, to reduce the project’s overall carbon footprint to the lowest levels possible.
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