Eni becomes 2nd partner in Qatar's NFE expansion project
QatarEnergy has selected Italy’s Eni as the second partner in the North Field East (NFE) expansion project, it said on June 19. TotalEnergies last week become the first company to be awarded a stake in the project.
Pursuant to the agreement, QatarEnergy and Eni will become partners in a new joint venture company (JV), in which QatarEnergy will hold a 75% interest while Eni will hold the remaining 25%. The JV will in turn own 12.5% of the entire NFE project, whose four mega LNG trains have a combined nameplate capacity of 32mn metric tons/year.
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This is Eni’s first-ever entry into Qatar’s upstream sector. More partners are slated to join the NFE project, and the relevant announcements will be made soon, QatarEnergy said.
The $28.7bn NFE project, launched by QatarEnergy in the summer of 2019, is currently under construction. It is intended to increase Qatar's total LNG export capacity from 77mn mt/yr to around 110mn mt/yr by 2027. The upstream part of the project will develop the southeastern area of the field with eight platforms, 80 wells and gas pipelines to the onshore plant.
Qatar has also announced a separate expansion project, North Field South (NFS), that will take the country’s LNG production capacity from 110mn mt/yr to 126mn mt/yr by 2027. The NFS project will see the addition of two more trains.