Offshore staff
DOHA, Qatar — Exxon Mobil and QatarEnergy have agreed to further develop Qatar’s offshore North Field East (NFE) gas project, which will expand Qatar’s LNG capacity from 77 MMt/year to 110 MMt/year by 2026.
The two companies will become partners in a new joint venture (JV), with QatarEnergy holding a 75% interest and Exxon Mobil holding the remaining 25%.
The JV will own 25% of the entire NFE project, including four LNG trains with a combined annual capacity of 32 MMt.
As a result, Exxon Mobil expects its participation in Qatar LNG volumes to raise the total capacity from 52 to 60MMt/year
QatarEnergy, as operator, initiated the NFE project in 2019. First LNG should follow in 2026.
This announcement follows the recent news that TotalEnergies, ConocoPhillips and Eni also recently joined QatarEnergy's NFE project.
06.22.2022
