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QatarEnergy has concluded its line-up for core partnerships on its North Field East (NFE) LNG mega-expansion, selecting Shell for a 6.25% stake in the 32.6 million ton/yr project. Discussions for minority stakes with key Qatari Asian customers are ongoing. But Tuesday’s signing ceremony marks the last NFE deal with a Western major, with a total 25% of the project awarded. In addition to Shell, Exxon Mobil (6.25%), TotalEnergies (6.25%), Eni (3.25%) and ConocoPhillips (3.25%) all won stakes. Chevron was the sole firm out of an original shortlist of six that did not make the cut. QatarEnergy initially envisaged awarding up to 30% for international investors, suggesting around 5% might still be available for Asian firms. Discussions have focused on Chinese and South Korean firms, sources say. The four-train NFE, which is due to start up in early 2026, will boost Qatari LNG capacity to 110 million tons/yr, with a 16 million ton/yr Phase 2, dubbed North Field South, due to come on stream from 2027-28. NFE’s environmental advantages, as much as economies of scale or low-cost gas, are a key draw for firms like Shell and Total with robust decarbonization plans.

LNG Supply, LNG Projects
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