Shell has been selected by QatarEnergy as a partner in the North Field East (NFE) expansion project in Qatar, the single largest project in the history of the LNG industry
Shell will hold a 25% share in a joint venture company which will own 25% of the North Field East expansion project, including the four mega LNG trains with a combined nameplate LNG capacity of 32mn tonnes per annum.
Shell’s investment in this LNG expansion will support delivery of much-needed supplies of natural gas to markets around the world. The project will also be integrated with carbon capture and sequestration to reduce emissions.
Shell chief executive officer, Ben van Beurden, said, "I am honoured that Shell has been selected by QatarEnergy. Through its pioneering integration with carbon capture and storage, this landmark project will help provide LNG the world urgently needs with a lower carbon footprint. Lower carbon natural gas is a key pillar of our Powering Progress strategy and will also help us achieve our target of becoming a net-zero emissions business by 2050.
“This agreement deepens our strategic partnership with QatarEnergy which includes multiple international partnerships such as the world-class Pearl GTL asset. We are committed to maximise the value of the LNG expansion for the State of Qatar and continue to be a trusted, reliable and long-term partner in Qatar’s continued progress.”
The agreement is the latest in a series of partnership agreements signed with international oil companies for the NFE project. In June, QatarEnergy agreed partnerships with TotalEnergies, eni, ExxonMobil and ConocoPhillips for the project.