TotalEnergies is the first partner in Qatar Energy’s North Field South (NFS) liquefied natural gas project. The NFE and NFS projects represent 32 and 16 million tons per year of LNG respectively.
The group obtains a 9.375% stake in the NFS project, out of the 25% reserved for foreign investors. As a result, TotalEnergies will increase its LNG production by 3.5 Mtpa by 2028 with this project, completing the 6.75% of the NFE. The company is on track to achieve its goal of a 50% share of natural gas in its sales by 2030.
The exploitation of the world’s largest natural gas deposit
The expansion of North Field’s LNG production involves the operation of NFE and NFS. Combined, they represent a 48 Mtpa contribution to Qatar’s export capacity. The country will produce 126 Mtpa by 2028.
Upstream of this project, TotalEnergies will equip the southern part of the North Field with 5 platforms, 50 wells and pipelines. Downstream, the operation will include two 8 Mtpa liquefaction trains.
Like NFE, NFS will apply high standards to reduce its greenhouse gas emissions. CO2 from natural gas production will be captured and sequestered.
The plant, connected to the Qatari power grid, will provide an increasing portion of renewable electricity. The Al Kharsaah photovoltaic plant project, in partnership with TotalEnergies, will contribute to achieving this objective.
A key partnership for TotalEnergies
With this partnership, TotalEnergies aims to become a major player in the development of renewable energies. The company’s chairman and CEO, Patrick Pouyanné, said:
“We see Qatar as a strategic partner for TotalEnergies. This latest addition to our portfolio is an important step in growing our low-carbon natural gas production.”
For TotalEnergies, this is a crucial step in the company’s transformation. It intends to establish itself as a key player in the renewable energy sector.
