Western companies bid for Qatar LNG stake: Reuters
The companies bidding for a stake in the Qatar LNG expansion projects are all western companies, according to a Reuters report June 14. There had been rumours circulating of discussions between Qatar and Chinese entities about taking part in the project, which will add some 33mn metric tons/year of LNG and include carbon capture and sequestration to lower the carbon footprint.
Reuters named US majors ExxonMobil, Chevron and ConocoPhillips and three European companies Anglo-Dutch Shell, French TotalEnergies (TE) and Italy’s Eni, although only Eni confirmed it had bid. They all submitted offers on May 24. ExxonMobil, Shell, TE and Conoco are already involved with Qatar’s existing LNG projects.
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Reuters quoted an unnamed senior source at one of the bidding companies as saying that while Qatar Petroleum did not need outside expertise in upstream or midstream construction, "they will be glad to see someone take some LNG volumes off their hands."
Reuters said Qatar Petroleum was offering international bidders returns of around 8% to 10% on their investment, which is substantially less than the 15%-20% the four active investors have seen from earlier LNG facilities, Reuters said, quoting sources in three of the companies involved.