Qatar’s state owned energy giant, QatarEnergy, has engaged in talks with several Asian nations to take an equity stake in Qatar’s massive $30 billion North Field East expansion project.
“There is a hot competition to associate with the prestigious North Field expansion project,” al-Kaabi told Gulf Times at a media event at the QatarEnergy headquarters.
The North Field expansion, comprising North Field South (NFS) and North Field East (NFE), will increase Qatar’s LNG production capacity from the current 77 mtpa to 126 mtpa.
Al-Kaabi said China is now Qatar’s top buyer of liquefied natural gas.
“China is the largest consumer of LNG from Qatar by far…China is our number one customer. China is also the world’s biggest buyer of liquefied natural gas,” he said.
Al-Kaabi added, “Last year, Qatar sold 15 million tonnes of LNG to China. China is also a huge market for LPG, helium and condensates, of which Qatar is the world’s top producer.”
QatarEnergy on Tuesday signed definitive agreements with China National Petroleum Corporation, covering the supply of 4 million tonnes of LNG annually for 27 years and a 5% stake for CNPC in the North Field East LNG expansion project (NFE).
In his remarks at the signing ceremony, al-Kaabi welcomed CNPC as a “valuable” partner in the NFE project.
Last year, Qatar selected Exxon Mobil, TotalEnergies, Royal Dutch Shell, and ConocoPhillips as partners for the North Field expansion project.