Page 17 - GLNG Week 13 2021

GLNG MIDDLE EAST GLNG

QP to take full control of Qatargas 1

PROJECTS & QATAR Petroleum (QP) announced this week 10mn tonnes per year (tpy) of LNG. The JV
COMPANIES that it would not renew the Qatargas Liquefied awarded a contract worth around $1.7bn to Italy’s
Natural Gas Company Ltd (QG1) joint venture Saipem in late February covering the engineer-
(JV) when its concession expires at the end of ing, procurement, construction and installation
next year, at which point the state-owned firm (EPCI) of various offshore facilities at the super-
will take full control. giant North Field. The asset has fuelled Qatar’s
The current JV arrangement with super-ma- economy and allowed the tiny island nation to
jors Total (10%) and ExxonMobil (10%), as well become the world’s top LNG exporter.
as Marubeni (7.5%) and Mitsui (7.5%), expires QP recently awarded major contracts under
on December 31, and QP will assume full owner- the North Field Expansion (NFE) project. A
ship on January 1, 2022, up from its current 65% lump sum EPC contract was apportioned to
holding. Samsung C&T worth more than $2bn for the
HE Saad Sherida Al-Kaabi, Qatar’s Minister expansion of LNG storage and loading facilities
of State for Energy Affairs, QP’s president and within Ras Laffan Industrial City and a $13bn
CEO, said that the move would “conclude more EPC contract was awarded to a JV between
than 25 years of successful operations of QG1, Chiyoda and Technip Energies covering the
from which the first ever Qatari LNG cargo was construction of four LNG mega-trains and asso-
exported”. ciated facilities.
He added that the “momentous event” high- Qatar is in the process of increasing its LNG
lighted QP’s “efforts to further enhance the uti- production capacity from 77mn tpy to 110mn
lisation of our natural resources for the benefit tpy by the end of 2025. The second phase of the
of our country and its current and future gener- planned expansion, the North Field South (NFS)
ations, as well as to continue serving the world’s project, is anticipated to raise Qatar’s LNG pro-
need for cleaner energy.” duction capacity further, from 110mn tpy to
QG1 has a production capacity of around 126mn tpy by 2027.™

NEWS IN BRIEF

AMERICAS NEXT Carbon Solutions, is developing one of LNG possible from the Permian and Eagle
the largest CCS projects in North America at Ford basins.”
NextDecade announces Rio Grande LNG. NEXT Carbon Solutions’ NEXTDECADE, March 29, 2021
CCS project at Rio Grande LNG is expected
issuance of preferred to enable the capture and permanent geologic ASIA
storage of more than fivemn tonnes of CO2
equity to OGCI Climate per year. HPCL acquires balance
“We are pleased to welcome OGCI Climate
Investments Investments as a NextDecade investor,” said
Matt Schatzman, NextDecade’s Chairman
NextDecade announced today that it has and Chief Executive Officer. “We share a 50% stake in Chhara LNG
agreed to sell $10mn of Series C convertible vision of providing the world access to cleaner terminal
preferred stock in a private placement to energy. This capital will enable the further
OGCI Climate Investments Holdings. advancement of NextDecade’s proprietary Hindustan Petroleum Corporation Ltd
OGCI Climate Investments is a fund set processes to lower the cost of utilising (HPCL) has acquired the balance 50% equity
up by member companies of the Oil and CCS technology and the realization of the stake in ‘HPCL Shapoorji Energy Private
Gas Climate Initiative (OGCI) to catalyse transformative and impactful contributions Ltd (HSEPL)’ from M/s S P Ports on March
low carbon ecosystems and deliver carbon that we expect to make to the global energy 30, 2021. Post-acquisition, HPCL’s stake
reduction. One of OGCI Climate Investments’ industry and the quest toward a net-zero in HSEPL gets enhanced to 100%, making
areas of focus is the capture and storage of future.” HSEPL a wholly owned subsidiary of HPCL.
carbon dioxide (CCS) in industrial processes “Through its work at Rio Grande LNG, HSEPL is constructing a 5mn tpy liquefied
including power generation. The fund invests NextDecade demonstrates the economic natural gas (LNG) terminal at Chhara, Gujarat
in projects and technologies that are economic and operational viability of CCS to deliver at a project cost of about INR4300 crore which
and implementable, helping to demonstrate carbon reduction,” said Pratima Rangarajan, is likely to be completed by end of calendar
the viability of a global CCS industry. OGCI Climate Investments’ Chief Executive year 2022. The terminal will have all facilities
Earlier this month, NextDecade Officer. “We believe in NextDecade’s vision for receipt of LNG through ocean going
announced its wholly owned subsidiary, of delivering the lowest end-to-end emission tankers, marine unloading, storage, LNG road

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