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Al Mayadeen's correspondent in South Lebanon: Israeli drone strikes town of Harouf, Nabatieh district.
Factions' statement: The attendees agreed to support and continue implementing the ceasefire agreement measures, including the withdrawal of the occupation and lifting the siege.
Factions' statement: Calling for an end to all forms of torture and violations against prisoners in occupation prisons and the necessity of obligating the occupation to do so.
Statement: The current moment is crucial, making the meeting a true turning point toward national unity in defense of our people and their right to life, dignity, and freedom.
Factions' statement: Call for an urgent meeting of all Palestinian forces and factions to agree on a national strategy.
Factions' statement: Continuing joint work to unify visions and positions to confront the challenges facing the Palestinian cause.
Statement of the factions: Emphasis on the unity of the Palestinian political system and the independent national decision.
Statement: Approval to establish an international committee to oversee the financing and implementation of the reconstruction of the Gaza Strip.
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Resistance factions' statement: Agreement to hand over the administration of the Gaza Strip to a temporary Palestinian committee of independent technocrats.

Shell buys 9% stake in Qatari gas field

  • By Al Mayadeen English
  • Source: Agencies
  • 23 Oct 2022 15:12
2 Min Read

Shell Plc is investing in Qatar's latest liquefied natural gas project, just months after investing in another of the Gulf country's expansion plans.

  • x
  • Expansion project: a North Field facility offshore Qata. (QATARGAS)
    Expansion project: a North Field facility offshore Qatar. (QATARGAS)

At a signing ceremony in Doha, Qatari Energy Minister Saad Al-Kaabi announced on Sunday that Shell will acquire a 9.375% stake in North Field South, which will increase Qatar's LNG output capacity by 16 million tons per year.

TotalEnergies SE also joined the project in September, with a 9.375% stake worth approximately $1.5 billion. Kaabi previously stated that Qatar was selling a combined 25% stake to four companies, with two more partners to be announced.

Qatar is increasing its production and liquefaction capacity in response to a global surge in gas demand. 

Shell Chief Executive Officer Ben van Beurden commented on a temporary price cap on natural gas in Europe, saying EU politicians understand the plan is complicated.

“I’m sure this will settle in an appropriate and responsible way that will really benefit both markets and consumers in Europe,” he said.

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Beurden added that Europe will have to reduce demand from industry for gas. As Germany yields on gas price caps, the EU backs energy measures.

Read more: EU gas demands cannot be met unilaterally: Qatar

Qatar's North Field South is forecasted to ship its first cargo in 2027, implying that it will not alleviate supply constraints in the coming years. The country is also working on another LNG project, North Field East, which will cost nearly $30 billion and will begin shipments in 2026. 

According to Kaabi, some supply agreements for that project have already been completed. The two projects will increase Qatar's potential LNG output from 77 million to 126 million tons per year.

It is worth noting that North Field East was invested by Shell, Total, Exxon, Eni SpA, and ConocoPhillips.

Read more: Oil giants under fire for ‘lying’ to the public over green goals

  • Shell
  • Qatar
  • European Union
  • gas
  • Gas prices

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