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Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street
Gaza Civil Defense spokesman: Claims that the Israeli occupation has withdrawn from areas in the neighborhoods of al-Zaytoun, al-Tuffah, and al-Shujaiya are false
Hamas: The two delegations stressed that any negotiations must lead to the achievement of our people's goals and aspirations, foremost among which is ending the war and the complete withdrawal of enemy forces
Hamas: A delegation from the Hamas leadership, led by the head of the leadership council, Mohammad Darwish, met with an Islamic Jihad delegation, headed by its Secretary-General, Ziyad al-Nakhalah

Shell buys 9% stake in Qatari gas field

  • By Al Mayadeen English
  • Source: Agencies
  • 23 Oct 2022 16:12
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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