Qatar to Select Exxon, Total for Mega-LNG Expansion Project
(Reuters) — Exxon Mobil Corp. and TotalEnergies SE are among the companies to be awarded with a piece of the expansion of the world's largest liquefied natural gas (LNG) project in Qatar, sources told Reuters on Tuesday.
Exxon, Total, Royal Dutch Shell and ConocoPhillips, which are part of Qatar's existing LNG production, were joined by new entrants Chevron Corp. and Italy's Eni in submitting bids in May 2021 for the expansion project.
The $30 billion-dollar North Field expansion will boost Qatar's LNG output by 64% to 126 million tonnes per annum (MTPA) by 2027, strengthening its position as the world's top exporter of the super-chilled fuel and help guarantee long term supply of gas to Europe which has been disrupted by sanctions on Russia due to the Ukraine invasion.
State-owned Qatar Energy (QE) had decided to make a final investment decision alone to develop the North Field expansion project, but opened a bid to seek partners to share the financial risk of the development.
Although a decision has been made, a formal announcement with the winners might not be made until later this month, one of the sources said. Exxon CEO Darren Woods will attend an energy conference with QE later in June.
QE said it will hold a press conference and a signing ceremony on June 12, without specifying the subject.
Exxon and Total declined to comment. Chevron, Cococo, Shell and Eni did not immediately reply a request for comment.
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