QatarEnergy Selects Eni as Second Partner in North Field East Expansion Project
QatarEnergy has selected Eni as a partner in the North Field East (NFE) expansion project, the single largest project in the history of the LNG industry. The announcement marks the second partnership in the US$28.75 billion NFE mega project, which will expand Qatar’s LNG production capacity from the current 77 million tonnes per annum (MTPA) to 110 MTPA.
The partnership agreement was signed during a special ceremony at QatarEnergy headquarters in Doha by Minister of State for Energy Affairs and QatarEnergy President/CEO HE Saad Sherida Al-Kaabi and Eni CEO Claudio Descalzi, in the presence of senior executives from both companies.
Pursuant to the agreement, QatarEnergy and Eni will become partners in a new joint venture company, in which QatarEnergy will hold a 75% interest while Eni will hold the remaining 25% interest. The joint company will in turn own 12.5% of the entire NFE project, whose four mega LNG trains have a combined nameplate capacity of 32 MTPA.
In his remarks during the ceremony, HE Minister Al-Kaabi highlighted QatarEnergy’s relations with Eni and welcomed the new partnership. He said that the agreement will strengthen their mutual cooperation for decades to come. He said that this is an important addition to their series of partnerships with Eni, which include upstream exploration projects in a number of locations around the world as QatarEnergy expands its international footprint.
HE Minister Al-Kaabi also thanked HH The Amir, Sheikh Tamim bin Hamad Al Thani, for his wise leadership and unwavering support to Qatar’s energy sector.
This is Eni’s first entry into Qatar’s upstream sector.
Descalzi, meanwhile, said they are honoured and delighted for having been selected as partner in the North Field East expansion project. He said that as a newcomer joining the leading LNG project, they feel the privilege and the responsibility of being a strategic partner of choice for Qatar.
This agreement is a significant milestone for Eni and fits our objective to diversify into cleaner and more reliable energy sources in line with our decarbonization strategy. Eni looks forward to working with QatarEnergy on this project to positively contribute to increasing worldwide gas security of supply.
More partners are slated to join the NFE Project and the relevant announcements will be made soon.
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