QatarEnergy’s Fourth Partner in the NFE Expansion Project: ExxonMobil
A special ceremony was held at QatarEnergy’s headquarters in Doha to mark the occasion, during which Minister of State for Energy Affairs and QatarEnergy President and CEO HE Saad Sherida Al-Kaabi and ExxonMobil Chairman and CEO Darren Woods signed the partnership agreement in the presence of senior executives from both companies.
The agreement stipulates a new joint venture company (JV), in which QatarEnergy will hold a 75% interest while ExxonMobil will hold the remaining 25%. The new JV will own 25% of the entire NFE project, which includes four mega LNG trains with a combined LNG capacity of 32 MTPA.
In his remarks during the ceremony, HE Minister Al-Kaabi said that their partnership agreement with ExxonMobil, a strategic and long-term partner with whom they enjoy successful and fruitful relations across the globe, is primarily due to the mutual trust and confidence between both parties, and to the State of Qatar’s safe and stable investment climate.
HE Minister Al-Kaabi added that they look forward to working closely with ExxonMobil to implement the world-scale project, and to live up to their commitment to provide cleaner energy in every corner of the world for a better tomorrow for all.
The minister concluded his remarks by extending his thanks to HH The Amir, Sheikh Tamim bin Hamad Al Thani, for his unwavering support to Qatar’s energy sector.
Darren Woods, in his comments during the ceremony, said that ExxonMobil’s scale, unique capabilities and expertise will contribute to enhancing the North Field’s LNG production capacity, helping to meet the world’s growing demand for energy while supporting a lower-emissions future. He added that this is an important milestone in their longstanding relationship with the State of Qatar and QatarEnergy, which he said continue to advance their global LNG leadership.
The US$28.75 billion NFE project will expand Qatar’s LNG export capacity from the current 77 million tonnes per annum (MTPA) to 110 MTPA. It is expected to start production in 2026, employing the highest health, safety and environmental standards, including carbon capture and sequestration, to reduce the project’s overall carbon footprint to the lowest levels possible.
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