QatarEnergy and TotalEnergies Sign 3.5 MTPA LNG Supply Agreements
Posted 12/10/2023 13:09
Affiliates of QatarEnergy and TotalEnergies have entered into two long-term liquefied natural gas (LNG) sale and purchase agreements. These deals will facilitate the supply of up to 3.5 million tons per annum (mtpa) of LNG from Qatar to France. LNG will be delivered ex-ship to the Fos Cavaou LNG receiving terminal in southern France, with deliveries expected to begin in 2026 and continue for 27 years. The contract values have not been disclosed.
The LNG volumes will be sourced from joint ventures between QatarEnergy and TotalEnergies, which have interests in Qatar's North Field East (NFE) and North Field South (NFS) projects. Saad Sherida Al-Kaabi, Qatar Minister of State for Energy Affairs and QatarEnergy President and CEO, highlighted the commitment to European and French markets, stating that "the new agreements reflect the joint effort of two trusted partners, QatarEnergy and TotalEnergies, to provide reliable and credible LNG supply solutions to customers across the globe."
TotalEnergies holds a 6.25 percent share in the NFE project and a 9.375 percent share in the NFS project.
QatarEnergy has been awarded exploration and production rights for block EGY-MED-E8 (East Port Said) offshore the Arab Republic of Egypt as part of the 2022 EGAS International Bid Round. This block was awarded to a consortium composed of QatarEnergy with a 33 percent stake, BP plc with a 33 percent stake, and ENI SpA acting as the operator with a 34 percent stake.
The East Port Said block is located off Egypt's northeastern Mediterranean coast, covering an area of approximately 1,004 square miles (2,600 square kilometers) with water depths of up to 2,625 feet (800 meters). QatarEnergy now holds a total of four offshore exploration blocks in Egypt, further expanding its presence in the country's upstream sector.
