Shell plans to invest £1.3 billion in a natural gas project in Qatar that aims to boost energy security and move to net zero.
Shell invests £1.3bn in Qatar gas project, boosting supply significantly
Shell invests £1.3bn in Qatar gas project, boosting supply significantly. The oil giant will acquire a 9.4% stake in North Field South, which will increase Qatar’s liquefied natural gas production by 16 million tons per year.
Qatar is trying to strengthen its position as the world’s largest exporter of natural gas by increasing capacity from 77 million tons a year to 126 million tons a year by 2027.
There has been a surge in demand for natural gas, which is seen as a key pillar of the world’s transition to zero CO2 emissions. Shell CEO Ben Van Beurden said his investment in a gas field operated by state-owned QatarEnergy will help strengthen energy security and move to break-even.
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