ExxonMobil, QatarEnergy Form JV To Boost LNG Output In Qatar's North Field East Project

(RTTNews) - ExxonMobil Corporation (XOM), an oil and gas firm, and state-owned QatarEnergy, on Tuesday said that they have established a joint venture expand Qatar's North Field East project which will further Qatar's annual LNG capacity from 77 million tons to 110 million tons by 2026.

The financial implication of the deal are not yet known.

In the newly formed JV, QatarEnergy will hold a 75 percent interest with ExxonMobil holding the remaining 25 percent.

The JV will own 25 percent of the entire North Field East project, including four LNG trains with a combined nameplate capacity of 32 million tons per year.

With North Field East, ExxonMobil's participation in Qatar LNG volumes is expected to increase total capacity from 52 million to 60 million tons per year.

The companies expect First LNG from North Field East project in 2026.

The expansion of North Field East and increased LNG export capacity is one of Qatar's key energy objectives.

QatarEnergy is the operator and commenced the North Field East project in 2019.