DOHA: Qatar Energy signed a partnership deal with Eni on Sunday for the North Field East expansion of the world’s largest liquefied natural gas (LNG) project, having announced a deal with TotalEnergies earlier this month.
Qatar Energy CEO Saad al-Kaabi said the joint venture with Eni would own 12.5% of the North Field East expansion. Eni would own 25% of the joint venture, Kaabi told a news conference, giving the Italian producer a 3.12% stake in the expansion.
Qatar is partnering with international energy companies in the first and largest phase of a nearly $30 billion expansion of the North Field project.
Kaabi said the first gas from the North Field East expansion is expected in early 2026.
Oil majors have been bidding for four trains – or liquefaction and purification facilities - of the North Field East expansion. TotalEnergies had said it will have 25% of one virtual train, giving it around 6.25% of the whole four trains.
Eni CEO Claudio Descalzi told the news conference that the low-carbon footprint of the project appeals to the firm.
The North Field Expansion plan includes six LNG trains that will ramp up Qatar’s liquefaction capacity from 77 million tonnes per annum (mtpa) to 126 mtpa by 2027. The fifth and sixth trains are part of a second phase, North Field South.
Exxon Mobil Corp, Shell and ConocoPhillips will also participate in the North Field expansion, sources have said.