Qatar Petroleum Moves Ahead With North Field Expansion
The move is part of Qatar Petroleum’s drive to monetize its gas reserves. The company announced in 2017 the self-imposed moratorium on developing North Field, the world’s biggest natural gas field, was lifted after more than a decade. Qatar declared a moratorium in 2005 on development of North Field, at the time saying it needed time to study the impact on the reservoir from a rapid increase in output.
Qatar Petroleum plans to develop a new gas project in the southern sector of the North Field. The company has entrusted Qatargas to execute this megaproject. In January, Qatar merged its two LNG producers—Qatargas and RasGas—under a single operator, Qatargas. Its shareholders include Qatar Petroleum, Exxon Mobil Corp., Total, ConocoPhillips, Shell, Mitsui and Marubeni.