Shell, Exxon to win new roles in Qatar’s LNG expansion -sources

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Shell, Exxon to win new roles in Qatar’s LNG expansion -sources

11:50 CAT | 06 Oct 2022

Image: Getty

Qatar will bring on board Shell and Exxon Mobil as partners in the second phase of the Gulf country’s giant liquefied natural gas (LNG) expansion, three sources familiar with the matter told Reuters.

The North Field South (NFS) expansion is part of Qatar’s ambitious drive to consolidate its position as the world’s top LNG exporter, with demand for the fuel growing as Europe scrambles to substitute the Russian pipeline gas that made up almost 40% of the continent’s imports.

The first North Field East (NFE) phase is expected to add 33 mtpa while the NFS phase will add 16 mtpa.

Shell and Exxon are also expected to be named as NFS partners in the coming weeks, the sources said.

A Shell spokesperson said: “QatarEnergy runs the process for developing North Field South…and will make any related announcements.”

Exxon declined to comment. QatarEnergy and the government’s media office did not immediately respond to requests for comment.

Exxon, Shell, TotalEnergies and their peers are racing to grow their LNG supplies with natural gas expected to play a central role in global efforts to reduce greenhouse emissions.

Al-Kaabi said his company would become the world’s largest trader of LNG over the next 5-10 years, moving ahead of Shell and TotalEnergies.

Source: Reuters