North Field expansion project - a quantum leap in leadership of Qatar's global energy landscape

(Gulf Times, Doha, 25 December 2023) Qatar’s energy sector saw a quantum leap in October this year when His Highness the Amir Sheikh Tamim bin Hamad al-Thani laid the foundation stone of the North Field expansion project, which will raise the country’s LNG production capacity from the current 77mn tonnes per year (mtpy) to 126mtpy by 2026. QatarEnergy is partnered in this global project by TotalEnergies, Shell, ConocoPhillips, ExxonMobil, Eni, Sinopec, and CNPC. The article outlines a large series of LNG project and sales to multiple European countries, noting they have also secured $4.4bn financing for the Ras Laffan Petrochemicals project, a world scale integrated polymers complex in Ras Laffan Industrial City, Qatar. The senior debt financing package is comprised of commercial and Islamic facilities as well as Export Credit Agency (ECA) financing.