QatarEnergy (QE) has chosen ConocoPhillips to be its third partner on the North Field South (NFS) LNG development.
The US company joins TotalEnergies and Shell on the LNG plan.
Conoco will take a 6.25% stake in the 16 million tonne per year NFS project. The company’s CEO Ryan Lance signed an agreement with QE president and CEO Saad Sheridan Al-Kaabi in Doha on October 30.
QE has a 75% stake in NFS, while Shell and Total each have 9.375%.
“QatarEnergy and its partners continue their efforts to supply an additional volume of about 65 million tons of LNG annually”, said Al-Kaaba.
These additional volumes come from its expansion projects at the North Field and the Golden Pass LNG project, in Texas.
These efforts, the QE official said, will help “meet growing demand for cleaner, low-carbon energy, and to enhance energy security of customers around the world”.
North Field LNG will have the “lowest carbon emission levels in the world”, Al-Kaabi said.
The expansion projects on the North Field will add 48mn tpy, with the first volumes coming to market in 2026.
Golden Pass is due to start up in 2024. ExxonMobil and QE recently agreed that they would market their share of equity production from this Texan project independently. This will give QE 70% of the 15.6mn tpy of output, while Exxon will market the remaining 30%.