ECONOMY
Wed 15 Mar 2023 9:22 pm - Jerusalem Time
Qatar is working to provide an additional 65 million tons of gas per year to global markets
DOHA - (Xinhua) - Qatar's Minister of State for Energy Affairs Saad bin Sherida Al-Kaabi said today (Sunday) that Qatar Energy Company continues to work with its partners to provide about 65 million additional tons annually of liquefied natural gas to global markets.
This came in a speech delivered by Al Kaabi during a ceremony announcing the selection of ConocoPhillips as a third and final partner in the North South Field expansion project, which includes two giant lines for the production of liquefied natural gas with a total capacity of 16 million tons annually.
Al-Kaabi added in his speech that the additional amount of gas will come from the North Field projects in Qatar and from the (Golden Pass) project in the United States of America.
He stated that this step comes to meet the growing demand for cleaner and low-carbon energy and to enhance energy security for the Qatari company's customers around the world.
He stressed that these quantities that will be produced by the expansion projects will be the lowest in the world in terms of carbon emissions thanks to carbon capture and sequestration techniques, which will play an important role in supporting the process of transition to clean energy in a practical and realistic way, as he described it.
Speaking about the partnership agreement signed today, Al-Kaabi explained that under the agreement, ConocoPhillips will own 6.25 percent of the total 25 percent of the international partnership shares, while Qatar Energy will own the remaining 75 percent of the project.
The agreement was signed today by Al-Kaabi, who is also the Managing Director and CEO of Qatar Energy Company, and Chairman and CEO of (ConocoPhillips) Ryan Lance, in a ceremony held at the headquarters of Qatar Energy in Doha, according to a statement by the Qatari company on its Facebook account. )).
According to the statement, the North Field Expansion Project, in the north of the country, consisting of the eastern part and the southern part, is the largest project in the history of the LNG industry.
Production will start in 2026, adding 48 million tons annually to the world's liquefied natural gas supplies, which will raise the gas production capacity of the State of Qatar to 126 million tons annually, according to the same source.
And Qatar Energy had previously announced the selection of the French companies (Total Energy) and the Dutch (Shell) as partners in the expansion of the North South Field, after announcing the list of companies concerned with expanding the eastern part, which included, in addition to these two companies, (ExxonMobil) and (Conoco). Philips Americas and Italian Eni.
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Qatar is working to provide an additional 65 million tons of gas per year to global markets