TOTALENERGIES SE: Qatar: TotalEnergies the First Company Selected to Partner with QatarEnergy on the Giant North Field East LNG Project
13 Juin 2022 - 08:00AM
UK Regulatory
TIDMTTE
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE):
Following the request for proposals in relation to partner
selection for the North Field East (NFE) liquified natural gas
project, TotalEnergies has been awarded a 25% interest in a new
joint venture (JV), alongside national company QatarEnergy (75%).
The new JV will hold a 25% interest in the 32 million tons per
annum (Mtpa) NFE project, equivalent to one 8 Mtpa LNG train.
The World's Largest LNG Project
The NFE, launched by QatarEnergy in summer 2019, is currently
under construction. It is intended to increase Qatar's total LNG
export capacity from 77 Mtpa to around 110 Mtpa by 2027, thanks to
the construction of four 8 Mtpa trains. The upstream part of the
project will develop the southeastern area of the field with 8
platforms, 80 wells and gas pipelines to the onshore plant.
A Low-Carbon LNG Project
Paying special attention to environmental and climate
challenges, the project will apply the highest standards to reduce
emissions. The native CO(2) from natural gas production will be
captured and sequestrated in a saline aquifer. In addition, the
facilities will be connected to the country's electrical grid,
which will supply a growing portion of renewable electricity -- in
line with Qatar's climate ambitions -- thanks to the giant Al
Kharsaah solar power plant, which is scheduled to come on stream in
2022, and in which TotalEnergies is a partner.
At the award ceremony, Patrick Pouyanné, Chairman and Chief
Executive Officer of TotalEnergies, said: "This is another historic
day for TotalEnergies in Qatar, where we have been present for more
than 80 years. Qatar has huge natural gas resources that it intends
to develop further to increase the production of the least
expensive, the most environmentally respectful and the best located
LNG. TotalEnergies was present at the beginning of its LNG industry
in Qatar some 30 years ago through its interest in Qatargas 1, and
then Qatargas 2 in 2005. We are very proud that Qatar has chosen
again TotalEnergies, this time as the first partner for its new
major phase of LNG expansion. It is a clear testimony of the
profound trust that the teams have developed together, and it will
extend our strategic partnership with Qatar and QatarEnergy for
more than 25 years. It is good news for the fight against Climate
Change as gas and LNG are key to support the energy transition, and
notably the shift from coal to gas in many countries. With its low
costs and low greenhouse gas emissions -- thanks to carbon capture
and storage -- the North Field expansion will be an exemplary and
major contribution to our low-carbon LNG growth strategy. This new
partnership will indeed enable us to reinforce our global LNG
portfolio and, together with Qatar, it will support our ability to
contribute to Europe energy security."
In his remarks during the ceremony, His Excellency Mr. Saad
Sherida Al-Kaabi, the Minister of State for Energy Affairs, the
President and CEO of QatarEnergy, said: "This is a historic
landmark for Qatar's energy industry and for the world's largest
LNG development. The North Field East project is an iconic
achievement that will not only ensure the optimal utilization of
Qatar's natural resources but will also provide the world with the
cleaner and more reliable energy it needs. Today, QatarEnergy is
standing at the threshold of a new era with a stronger commitment
to energy transition and to the safe, reliable, and trustworthy
access to cleaner energy. We will continue to power lives in every
corner of the world for a better tomorrow for all. This is our
commitment. We look forward to working closely with TotalEnergies,
who are a long-term strategic partner that we have always trusted
to support the efficient and safe delivery of our projects. I would
like to thank all the team members in QatarEnergy and TotalEnergies
for the excellent collaboration and for all their hard work that
has led to this important moment. I also would like to express
thanks and appreciation to the project's team and to the Qatargas
organization for continuing to deliver the NFE project, and with an
outstanding safety record. We are forever grateful to the wise
leadership of His Highness the Amir Sheikh Tamim bin Hamad Al Thani
and for His unlimited support of Qatar's energy sector."
***
TotalEnergies, The World's Third-Largest Low-Carbon LNG
Company
TotalEnergies is the world's third-largest low-carbon LNG
company, with a global market share of around 10% and a global
portfolio of nearly 50 Mt/y by 2025 thanks to its interests in
liquefaction plants in all geographies. The Company benefits from
an integrated position across the LNG value chain, including
production, transportation, trading, and LNG bunkering.
TotalEnergies ambition is to increase the share of natural gas in
its sales mix to 50% by 2030, reduce the gas value chain's carbon
emissions, eliminate methane emissions, and work with local
partners to promote the transition from coal to natural gas.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and
markets energies: oil and biofuels, natural gas and green gases,
renewables and electricity. Our more than 100,000 employees are
committed to energy that is ever more affordable, cleaner, more
reliable and accessible to as many people as possible. Active in
more than 130 countries, TotalEnergies puts sustainable development
in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.
@TotalEnergies TotalEnergies TotalEnergies TotalEnergies
Cautionary Note
The terms "TotalEnergies", "TotalEnergies company" or "Company"
in this document are used to designate TotalEnergies SE and the
consolidated entities that are directly or indirectly controlled by
TotalEnergies SE. Likewise, the words "we", "us" and "our" may also
be used to refer to these entities or to their employees. The
entities in which TotalEnergies SE directly or indirectly owns a
shareholding are separate legal entities. This document may contain
forward-looking information and statements that are based on a
number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be
inaccurate in the future and are subject to a number of risk
factors. Neither TotalEnergies SE nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this
document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies' financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
TotalEnergies
Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
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SOURCE: TotalEnergies SE
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