Qatar wins stake in Italy’s largest gas field project (video) | Economic News

Today, Sunday, the Qatar Energy and Italian Company (NE) signed a joint venture agreement to expand the Northeast Field, the world’s largest liquefied natural gas project.

The announcement comes at the end of a competition launched in 2019 to select Qatar’s international energy partners in the expansion plan, which will increase Qatar’s liquefied natural gas production capacity from 77 million tonnes per annum to 110 million tonnes.

The joint venture with Eni will contribute 12.5% ​​to the expansion of the Northeast sector, said Saad bin Sheridan al-Kafi, an engineer and Minister of State for Energy, Qatar’s Managing Director and Chief Executive Officer. Conference that Eni will hold 25% in the joint venture.

Last Sunday, Qatar Energy signed a similar agreement with a French company (Total Energies) for the 6.25% Northeast Field project.

The amount of investment to expand the productivity of the North Field is $ 28 billion, and the size of the expansion in the project is 32 million tons of liquefied natural gas.

Qatar Energy has announced that it plans to join more partners in the Northeast Field Expansion Project as the final terms are agreed, with other partners to be announced soon.

Qatar Energy, the world’s largest producer of liquefied natural gas, announced in February 2020 that it would increase its production of liquefied gas by about 40% to 110 million tonnes annually by 2026. Natural Gas Project.

See also  Volkswagen is cutting production at its largest plants due to a shortage of chips
  • Nadia Barnett

    "Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

    Related Posts

    • Economy
    • November 2, 2024
    • 22 views
    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    The wealth management landscape is undergoing a dramatic transformation, fueled by the rise of financial technology (fintech), according to fintech entrepreneur Emils Kerimovs. No longer exclusive to the ultra-wealthy, innovative…

    UAE Powering Gaming Boom in the Middle East

    The gaming industry in the Middle East is experiencing a growth spurt, with Saudi Arabia and the United Arab Emirates (UAE) among the countries attracting major investments. However, this digital…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    How to Choose the Right Mattress: Find the Best Fit for You

    How to Choose the Right Mattress: Find the Best Fit for You

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Best Kitchen Renovation Ideas to Upgrade Your Space

    Best Kitchen Renovation Ideas to Upgrade Your Space

    Where to Get a Professional Massage in Dubai

    Where to Get a Professional Massage in Dubai

    Dog Spay Surgery 101: Benefits, Risks, Cost, and Aftercare

    Dog Spay Surgery 101: Benefits, Risks, Cost, and Aftercare