Exxon Mobil Corp. and TotalEnergies SE are among a group of Western energy companies poised to win stakes in a multi-billion dollar project to boost Qatar’s gas exports, people with knowledge of the matter said.
State producer QatarEnergy may announce its decision as soon as this weekend, according to the people. Several other firms including Shell Plc also bid to be part of the expansion.
Qatar’s project, one of the largest ever in the natural gas industry, comes as Europe rushes to wean itself off Russian supplies in the wake of Moscow’s attack on Ukraine. Josep Borrell, the European Union’s chief diplomat, German Economy Minister Robert Habeck and other officials have visited Qatar in recent months in a bid to secure commitments of extra gas.
The investments will help the Persian Gulf state fund a plan of at least $30 billion to raise annual output of liquefied natural gas to almost 130 million tons by 2027. Qatar may initially announce partners for the first phase, some of the people said. That part will see QatarEnergy build four liquefaction units, known as trains, each with a capacity of 8 million tons per year. The first gas flows aren’t expected until 2026, according Qatar’s emir.
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