QatarEnergy signs partnership deal with TotalEnergies for expansion of world’s LNG project

QatarEnergy signed a partnership deal with TotalEnergies for the North Field East expansion of the world’s largest liquefied natural gas (LNG) project, Reuters reports.
Per the deal, TotalEnergies won a stake in a $29 billion Qatar gas project. The French energy giant also according to the deal will get a 6.25 per cent equity stake in the first phase of the plan.
“Suddenly, because of the tragic events in Europe, everybody is rushing to get LNG (liquefied natural gas),” TotalEnergies Chief Executive Officer, Patrick Pouyanne, said.
“Appetite is strong. More partners are expected to join the project alongside TotalEnergies.
The Gulf country is expanding production of liquefied natural gas amid a worldwide energy crunch.

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