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However, after facing huge cost escalation, it was reported to be $18 billion in 2007, [1] and, according to QatarEnergy sources, final project cost is expected to reach as high as $24 billion. [10] Because Shell's contract provided them with the input gas for free, the project was calculated to be viable once the price of oil exceeded $40 per ...
In October 2021, Shell Qatar presented Qatargas with the Reliable Asset Award for 2020 and the beginning of 2021. [78] [79] In November 2021, a project to build carbon dioxide sequestration facilities at Ras Laffan was announced and would be led by Qatargas along with Axens. The companies TEG technology was the reasoning for the selection of Axens.
Qatar will bring on board Shell and Exxon Mobil as partners in the second phase of the Gulf country's giant liquefied natural gas (LNG) expansion, three sources familiar with the matter told Reuters.
Shell (SHEL) to take a 6.25% interest in the North Field East expansion megaproject for an undisclosed consideration. Shell (SHEL) to Take Part in Qatar's LNG Expansion Project Skip to main content
Shell will take a 6.25% stake in the North Field East expansion project, QatarEnergy CEO Saad al-Kaabi told a news conference. TotalEnergies and Exxon will also hold 6.25% stakes.
Since 1997, Qatar has been exporting LNG from the North Field. In 2006, Qatar surpassed Indonesia as the world's largest LNG exporter. Based on the massive gas resources of the field, Qatar is developing the world biggest LNG export facilities in order to reach the capacity of 77 million metric ton per year by 2012 (see table below). [48]
Shell (SHEL) and Exxon are likely to be named as additional partners by Qatar for the second phase of its LNG expansion project in the upcoming weeks.
QatarEnergy (Arabic: قطر للطاقة), formerly Qatar Petroleum (QP), [1] is a state owned petroleum company of Qatar.The company operates all oil and gas activities in Qatar, including exploration, production, refining, transport, and storage.