Shell set to plough £1.3bn in Qatari natural gas project
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Shell plans to plow £1.3bn into Qatari natural gas project as it seeks to bolster energy security and transition to net zero
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Shell plows £1.3bn into Qatari gas project for massive supply boost
Shell is investing £1.3bn in a Qatari gas project to boost supplies. The oil giant will take a 9.4 percent stake in North Field South, which will expand Qatar’s liquefied natural gas production by 16 million tons per year.
Qatar is seeking to consolidate its position as the world’s largest exporter of natural gas by increasing capacity from 77 million tons per year to 126 million tons per year by 2027.
The demand for natural gas has risen sharply, which is seen as an important pillar of the global transition to net zero CO2 emissions. Shell boss Ben Van Beurden said his investment in the gas field, run by state-owned QatarEnergy, will help bolster energy security and the transition to net zero.