TotalEnergies CEO Patrick Pouyanne and QatarEnergy CEO Saad al-Kaabi at a signing ceremony
TotalEnergies first off the NFE blocks
French firm’s Qatari LNG expansion stake is set to be the first in a queue
TotalEnergies has been selected as the first IOC to take part in a joint venture (JV) to develop Qatar’s multibillion-dollar North Field East (NFE) LNG project. The deal was signed during a ceremony in Doha on Sunday, during which state-owned QatarEnergy noted that more was to come later this week. TotalEnergies was awarded 25pc in the NFE JV, which in turn will hold 25pc in the $28.75bn project. This consists of eight offshore platforms, 80 wells, gas pipelines and a four-train liquefaction plant with a total capacity of 32mn t/yr, giving the French firm an equity stake of 6.25pc in an overall development that runs until 2054. While the level of TotalEnergies’ investment has not been disclo
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