ExxonMobil and QatarEnergy announced the signing an agreement on the further development of the North Field East project in Qatar, which will increase Qatar’s annual LNG production capacity from 77 million tons to 110 million tons by 2027,” writes ExxonMobil.
The company specifies that thanks to the project, ExxonMobil’s participation in LNG supplies to Qatar will increase the total capacity from 52 to 60 million tons per year.
Under the terms of the agreement, QatarEnergy and ExxonMobil will become partners in a new joint venture in which QatarEnergy will own a 75% stake and ExxonMobil the remaining 25% stake. North Field East will own 25% of the joint venture, including four LNG production lines with a combined design capacity of 32 million tons per year.
Caspian Barrel
