Doha, 08 Feb. 2021 (QP)
Qatar Petroleum signed an agreement to develop it’s North Field East Project (NFE), world’s largest LNG project which will increase Qatar’s capacity of LNG production from 77 million tons per year to 110 million tons (MMTPA). In addition to LNG, the project will produce Condensate, LPG, Ethane, Sulfur and Helium.
The production is expected to start from the 4th quarter of 2025 and it’s production is expected to be equivalent to 1.4 m barres oil per day.
A signing ceremony was held for the execution of project’s key onshore Engineering, Procurement and Construction (EPC) contract. The contract was signed by Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum; Kazushi Okawa, Chairman of the Board and CEO of Chiyoda Corporation; and Arnaud Pieton, President of Technip Energies.
Present on the occasion were senior executives from Qatar Petroleum, Qatargas, Chiyoda, and Technip.
The main scope of the EPC contract is the construction of 4 mega LNG trains with a capacity of 8 MMTPA each, with associated facilities for gas treatment, natural gas liquids recovery, as well as helium extraction and refining within Ras Laffan Industrial City.
Sa’ad AlKaabi said on the occasion that total cost of the NFE project will be 28.75 billion dollars, making it one of the energy industry’s largest investments in the past few years. In addition to being the largest LNG capacity ever, and the most competitive LNG project in the world, the project will generate substantial revenues for the state of Qatar and will have significant benefit to all sectors of the Qatari economy during the construction phase and beyond.”
He said that today’s event is of particular importance as it comes at a critical time when the world is still reeling from the effects of a global pandemic and related depressed economies. This investment decision clearly demonstrates the steadfast commitment by State of Qatar to supply the world with the clean energy it needs.”