Doha: Italian company Eni joined Qatar Energy’s project to expand production from the world’s biggest natural gas field, on Sunday, days after Russia slashed supplies to Italy.
Eni will own a stake of just over three per cent in the $28 billion North Field East project, Qatar Energy’s CEO said.
Qatar announced France’s TotalEnergies as its first, and largest, foreign partner on the development last week, with a 6.25 per cent share.
More companies are set to be named.
“Today I’m pleased... to announce the selection of Eni as a partner in this unique strategic project,” Qatar’s energy minister Saad Sherida Al Kaabi, who is also president and CEO of state-owned Qatar Energy, told a press conference in Doha.
The project’s LNG - the cooled form of gas that makes it easier to transport - is expected to come on line in 2026. It will help Qatar increase its liquefied natural gas production by more than 60 per cent by 2027, TotalEnergies CEO Patrick Pouyanne told AFP last week.
Russia’s attack on Ukraine has injected urgency into efforts around the world to develop new energy sources as Western countries try to reduce their reliance on Russia.
On Friday, Eni said it would receive only 50 per cent of the gas requested from Russia’s Gazprom, the third day running of reduced supplies. Rome has accused Gazprom of peddling “lies” over the cuts.
