Shell joins Qatar's giant gas project
Gulf Times
Officials hold a signing ceremony at QatarEnergy headquarters in Doha, on July 5, 2022.
Shell joined Qatar Energy's $29 billion project to expand production at the world's biggest natural gas field on Tuesday, becoming the fifth and final international partner.
The British-based company took a 6.25 percent stake for an undisclosed sum, joining TotalEnergies, Eni, ConocoPhillips and ExxonMobil in the North Field East project.
The North Field expansion is the biggest liquefied natural gas (LNG) project ever seen, Qatar Energy said. It comes at a time of intense geopolitical tensions over energy supplies.
The $28.75 billion development is predicted to increase Qatar's production from the current 77 million tonnes a year to 110 million tonnes by 2027.
