QatarEnergy announces their three partners in gas expansion project

QatarEnergy announced their third and last partner that will join them in their expansion of a liquified natural gas (LNG) project.

The country’s state-owned oil and gas company will work with the American crude oil producer ConocoPhillips, who will have a 6.25% share in the project. As Reuters reports, this was announced by QatarEnergy’s CEO Saad al-Kaabi on October 30.

He has previously announced that British Shell and French TotalEnergies will take part in the expansion of the North Field South project, part of the world's biggest gas field that Qatar shares with Iran. They will hold 9.375% stakes in the project each.

LNG supplies and capacity have taken on special importance since the conflict in Ukraine has led to global cuts in Russia's gas supplies, leaving many countries fearing an energy shortage with winter approaching.

The EU had entered discussions with Azerbaijan, Qatar, and the USA in an attempt to enter new agreements or expand existing ones to decrease their energy dependency on Russia.

Caliber.Az recalls that the EU entered an agreement with Azerbaijan on July 18 on the former doubling its gas supplies to the Union by 2027.