Save for later Print Download Share LinkedIn Twitter Qatar's negotiations with potential equity partners in the second phase of its LNG mega-expansion are almost concluded, the country's energy minister said Wednesday. "We see about three partners entering this project," Saad al-Kaabi told the Energy Intelligence Forum in London, referring to Phase 2 of Qatar's expansion, which is also known as North Field South (NFS). "We are done with almost everything. We are just defining the date of when my counterparts can come to Qatar to celebrate," he added. Al-Kaabi also serves as CEO of QatarEnergy, which recently announced the first winner of an equity stake in NFS — French major TotalEnergies which landed a 9.375% stake. The other partners in the 16 million ton/yr NFS expansion will come from the pool of companies that were awarded stakes in Phase 1 of the LNG expansion, which is also known as North Field East (NFE). There will be "no surprises" when the names are announced, al-Kaabi acknowledged. In addition to Total, the Phase 1 equity stakeholders are Exxon Mobil (6.25%), Shell (6.25%), Eni (3.125%) and ConocoPhillips (3.125%). In total, 25% of NFS is believed to be available for strategic equity partners.
