By Pierre Bertrand

 

TotalEnergies SE said Saturday that it has been granted a participating interest in Qatar's North Field South liquefied natural gas project.

The French energy major said it has been selected as the first international partner by state-owned QatarEnergy and will obtain a 9.4% participating interest in the project, which produces 16 million metric tons of LNG a year.

TotalEnergies said the agreement adds to the 6.3% participating interest the company already has in Qatar's 32 million-ton North Field East LNG project.

TotalEnergies said its combined holdings will increase its annual production of LNG by 3.5 million tons by 2028.

Both gas fields comprise the North Field Expansion project designed to increase Qatar's LNG production and export capacity from the country's mostly offshore North Field.

QatarEnergy will retain a 75% participating interest in the North Field South project, while 25% is available for international players, TotalEnergies said.

 

Write to Pierre Bertrand at pierre.bertrand@wsj.com

 

(END) Dow Jones Newswires

September 26, 2022 01:57 ET (05:57 GMT)

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