QatarEnergy LNG has awarded a $4 billion contract to an Italian-Chinese group for work on the North Field, the world's largest non-associated natural gas reserve — the latest step in a push to almost double the country's liquefied natural gas (LNG) output.
The engineering, procurement, construction, and installation contract will take five years to complete . Italian energy services company Saipem will take on the majority of the work, worth $3.1 billion, alongside China's Offshore Oil Engineering Co.
Qatar plans to boost its production from 77 million tons a year now to 142 million tons by 2030, along with a further 18 million tons from the Golden Pass LNG project in Texas. Adding to its strong market presence, it is also trading increasing amounts of non-Qatari LNG.
