ExxonMobil signs strategic agreement with Qatar Energy to expand North Gas Field

Qatar’s North Gas Field is an extension of Iran’s South Pars field and is the largest gas field in the world owned by neighboring countries Qatar and Iran.
Recently, Qatar signed strategic partnerships with international companies to push the first and largest phase of the Northeast Field Expansion Project, which costs about $30 billion and will strengthen Qatar’s position as the largest exporter of liquefied natural gas in the world.
Reported by Qatar News Agency (QNA) recently, Qatar Energy Company signed an agreement with the American company ExxonMobil, according to which Exxon will join a 6.25 percent share as a fourth partner of the chain of global companies based on developing the giant Northeast gas field, namely the Italian company Eni, the French Total Energies and the American ConocoPhillips. Exxon’s share in the project is equal to Total Energies’ share, while Eni and ConocoPhillips each own about 3.12 percent of the project.
These companies will build four gas liquefaction and purification facility lines within the North East Field project, out of a total of six LNG lines that will increase the liquefaction capacity in Qatar from 77 million tons per year to 126 million tons per year by 2027. The fifth and sixth lines are part of the second phase of expansion known as the South North Field.
In this regard, Saad Sherida Al-Kaabi, Minister of Energy and CEO of Qatar Energy, said: “Exxon will certainly be a very important strategic partner in the North Field expansion project, which will enhance Qatar’s ability to export gas.” He added that the two companies will form a joint venture and Exxon will own 25%. of it.