ExxonMobil and QatarEnergy have signed an agreement to further develop Qatar’s North Field East project, expanding Qatar’s annual LNG capacity from 77 million tons to 110 million tons by 2026.
With the project, ExxonMobil’s participation in Qatar LNG volumes is expected to increase total capacity from 52 million to 60 million tons per year. Under the terms of the agreement, QatarEnergy and ExxonMobil will become partners in a new joint venture company, in which QatarEnergy will hold a 75 percent interest with ExxonMobil holding the remaining 25 percent interest.
The joint venture will own 25 percent of the entire North Field East project, including four LNG trains with a combined nameplate capacity of 32 million tons per year.
“We are collaborating with QatarEnergy on North Field East to accelerate the production of secure, affordable and cleaner energy our world needs,” said Darren Woods, chairman and CEO of ExxonMobil. “ExxonMobil has a long histor
