ConocoPhillips awarded stake in Qatar's NFS expansion project

Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs, President and CEO of QatarEnergy, and ConocoPhillips CEO Ryan Lance signed the partnership in Qatar’s capital city, Doha.

ConocoPhillips will secure a 6.25% participating interest in the NFS project, out of a 25% interest available for international partners. Last week Shell was awarded 9.375% stake in the NFS expansion project and TotalEnergies holds an equivalent interest. QatarEnergy holds the remaining 75% interest.
Mr Al-Kaabi, said “QatarEnergy and its partners continue their efforts to supply an additional volume of about 65 mtpa of LNG annually, from its North Field Expansion Projects and the Golden Pass LNG Project, to the global market to meet growing demand for cleaner, low-carbon energy, and to enhance energy security of customers around the world.”
The North Field Expansion Project, comprising NFS and the North Field East expansion projects, is the industry’s largest-ever LNG project. It will start production in 2026 and will add more than 48 mtpa to the world’s LNG supplies by 2027.

Mr Al-Kaabi added “As we have previously emphasised, LNG produced from the North Field Expansion Projects will have the lowest carbon emission levels in the world, thanks to the deployment of a number of technologies, including extensive use of carbon capture and sequestration technologies. This will enable our LNG to play an important role in supporting a pragmatic, equitable and realistic energy transition.”