Oil and gas giant Shell will take a 6.25% stake in the £24bn North Field East scheme run by Qatar Energy
Shell has become the latest company to join the world’s largest liquefied natural gas project in Qatar.
The British oil and gas giant will take a 6.25 per cent stake in the £24billion North Field East scheme run by Qatar Energy.
Shell is the final energy company to partner Qatar in the project following earlier deals with Total Energies, Exxon, Conoco Phillips and Eni.
The expansion of the scheme will boost Qatar’s position as the world’s top LNG exporter as demand for the fuel soars following Russia’s invasion of Ukraine.
‘This agreement deepens our strategic partnership with Qatar Energy, which includes multiple international partnerships,’ said Shell boss Ben van Beurden.
The partnership comes after Russia seized control of Sakhalin-2, one of the world’s largest LNG projects, in which Shell has a stake.
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