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GLNG: QatarEnergy adds more JVs for NFE development

QatarEnergy has followed up on last week’s deal to include TotalEnergies in its North Field East (NFE) LNG expansion with the signing of joint venture (JV) agreements with three more IOCs.

Last week, the French super-major took a 25% stake in a JV – assumed to be called NFE 1 – with the Qatari firm running until 2054. The JV was awarded a 25% stake in NFE, providing QatarEnergy 18.75% of equity and with its partner taking 6.25%.

Since then, JVs have been formed with Italy’s Eni (NFE 2) and US firms ConocoPhillips (NFE 3) and ExxonMobil (NFE 4). The latter was the only one to be attributed the same equity weighting in the LNG expansion project as that of TotalEnergies.

NFE 2 & 3 was awarded stakes of 12.5% each in the project, giving Eni and ConocoPhillips equity shares of 3.13%.

The $28.75bn NFE development comprises the drilling of 80 wells, installation of eight offshore platforms, gas pipelines and four 8mn tonne per year LNG trains, which will raise Qatar’s liquefaction capacity from the current level of 77mn tpy to 110mn tpy by 2027.

QatarEnergy said first LNG cargoes from the latest phase are anticipated by the end of 2025, but the Qatari NOC did not provide an update for the output expansion. The 2027 date would represent a one-year delay compared to previous guidance from Doha.