Qatar hugely increases production: Total will develop the largest natural gas field in the world

Qatar hugely increases funding
Total is set to develop the largest natural gas field in the world

According to the federal government, the Emirate of Qatar should also play a central role in solving the current energy crisis. In a few years, Qatar wants to develop the largest natural gas field in the world and massively increase its production. Total is the first foreign company to participate.

French energy group TotalEnergies became the first foreign company to win the joint development contract for the world’s largest natural gas field from Qatar. Qatari Energy Minister Saad Sherida al-Kaabi announced that TotalEnergies will hold a 6.25% stake in the project, which aims to increase Qatar’s natural gas production by 60% by 2027.

TotalEnergies is the first foreign company with which the emirate intends to collaborate on the North Field East project, with more to come. Natural gas imports from Qatar have become significantly more important to European countries since the Russian attack on Ukraine and subsequent Western sanctions.

The “North Field East” project aims to extract gas from the South Pars field, which extends in the Persian Gulf from the coast of Qatar to Iran. Together with the USA and Australia, Qatar is already one of the main producers of liquid gas. According to estimates by the state-owned Qatar Energy (QE), the emirate controls about ten percent of the world’s gas reserves.

From 2024 LNG for Germany

Qatari minister al-Kaabi described the contract with TotalEnergies as “more of a marriage than a partnership”, the contract lasts until 2054. According to industry information, energy companies ExxonMobil, Shell and ConocoPhillips also want to acquire shares in “North. Field East Development Project “. Qatar had originally planned to manage the project on its own.

Qatar signed an energy partnership with Germany in May. According to the Deputy Prime Minister of the Gulf State, Sheikh Mohammed bin Abdulrahman Al-Thani, the emirate wants to supply liquid gas to the Federal Republic as early as 2024.

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