Qatar picks Exxon, Total, Shell, Conoco for mega-LNG expansion – sources

Qatar has picked Exxon Mobil Corp, TotalEnergies SE (TTEF.PA), Royal Dutch Shell (SHEL.L) and ConocoPhillips (COP.N) as partners in the expansion of the world’s largest liquefied natural gas (LNG) project, people with knowledge of the matter said on Tuesday.

The North Field expansion will boost Qatar’s LNG output by 64% by 2027, strengthening its position as the world’s top LNG exporter and help to guarantee long term supply of gas to Europe.

State-owned Qatar Energy (QE) had decided to make a final investment decision alone to develop the $30 billion North Field expansion project, but opened a bid to seek partners to share the financial risk of the development.

The four companies, which already are part of Qatar’s existing LNG production, submitted bids in May 2021 together with new entrants Chevron Corp (CVX.N) and Italy’s Eni (ENI.MI)read more

Four people confirmed Exxon and Total were among the winners, while one source said Shell and Conoco will participate in the project.

Exxon, Total and ConocoPhillips declined to comment. QE, Chevron, Shell and Eni did not immediately reply a request for comment.

Although a decision has been made, a formal announcement with the winners might not be made until later this month, one of the sources said. Exxon Chief Executive Darren Woods will attend an energy conference with QE later in June.

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