Energy company Qatar Energy announced today, Tuesday, that it has selected the US company ExxonMobil as its fourth partner in the development of the Northern Gas Field, which is the largest gas field in the world.
ExxonMobil will hold a 6.25% stake in Qatar’s $28.75 billion northeast field expansion project with the same stake as France’s Total Energy, while Italy’s Eni and America’s ConocoPhillips will hold 3.1%.
The project includes the expansion of the Northern Gas Field, which is the largest gas field in the world, which Qatar shares with Iran, and the project cost is estimated at about $28 billion, according to AFP.
The field contains about 10% of the world’s known natural gas reserves, according to Qatar Energy Company.
It should be noted that gas production from the project is scheduled to start in 2026, as it will help Qatar increase its production of liquefied natural gas from 77 million tons to 110 million tons per year.