Exxon joins Qatar’s mega-LNG expansion project

• Qatar is teaming with multinational corporations in the first and largest phase of a nearly $30 billion development
• Will help the country become the world’s top LNG exporter.
• The North Field East project consists of four trains, or liquefaction and purification facilities, for which oil majors have been bidding.

Following deals with TotalEnergies, Eni, and ConocoPhillips, QatarEnergy struck a contract with Exxon Mobil on Tuesday for the Gulf state’s North Field East development, the world’s largest liquefied natural gas (LNG) project.

Qatar is teaming with multinational corporations in the first and largest phase of a nearly $30 billion development that will help the country become the world’s top LNG exporter. find out more

According to QatarEnergy CEO Saad al-Kaabi, the businesses would form a joint venture in which Exxon will own a 25% stake.

Exxon will have a 6.25 percent share in the North Field East extension, according to Kaabi.

Exxon’s stake in the project would be equivalent to TotalEnergies’, while Eni and ConocoPhillips each hold roughly 3.12 percent.

The North Field East project consists of four trains, or liquefaction and purification facilities, for which oil majors have been bidding.

Six LNG trains are part of the North Field Expansion plan, which will increase Qatar’s liquefaction capacity from 77 million tonnes per annum (mtpa) to 126 mtpa by 2027. North Field South is the second phase, which includes the fifth and sixth trains.

The North Field is part of the world’s largest gas field, which Qatar shares with Iran. Iran refers to its portion as the South Pars.

Exxon has a long history with Qatar, dating back to Mobil Oil’s role in the development of the Middle Eastern country’s massive North Field gas deposit three decades ago.

Exxon bought Mobil in 1998 and expanded their partnership by investing in new processing units, LNG tankers, and receiving ports.

One of the ports, Golden Pass in Texas, was built with the intention of importing Qatari LNG into the US. The shale gas boom in the United States put a halt to that idea, and the two are now using it to develop an LNG export facility.

Exxon CEO Darren Woods, who travelled to Qatar for the joint announcement on Tuesday, said the Golden Pass