Saipem Secures $4 Billion Offshore Contract with QatarEnergy to Boost LNG Production
9/16/2024
(Reuters) — Italian energy engineering group Saipem said on Sunday it had won an offshore contract worth $4 billion from QatarEnergy, one of the world's top suppliers of liquefied natural gas (LNG).
The contract will help boost production at QatarEnergy's North Field offshore natural gas field, which lies off the northeastern coast of Qatar, Saipem added in a statement.
Earlier this year, Qatar announced an expansion project to boost the North Field's LNG output to 142 million tons per annum (mtpa) from the current 77 mtpa by 2030.
The Italian group said this month it had won two offshore contracts in Saudi Arabia worth about $1 billion in total, under an existing long-term agreement with oil giant Saudi Aramco.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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