QatarEnergy LNG has awarded a $4 billion contract to an Italian-Chinese group for work on the North Field, the world’s largest non-associated natural gas reserve — the latest step in a push to almost double the country’s liquefied natural gas (LNG) output.
The engineering, procurement, construction, and installation contract will take five years to complete. Italian energy services company Saipem will take on the majority of the work, worth $3.1 billion, alongside China’s Offshore Oil Engineering Co.
Qatar plans to boost its production from 77 million tons a year now to 142 million tons by 2030, along with a further 18 million tons from the Golden Pass LNG project in Texas. Adding to its strong market presence, it is also trading increasing amounts of non-Qatari LNG.