The NFS expansion is part of Qatar’s plan to consolidate its position as the world’s top liquefied natural gas (LNG) exporter and meet the surging fuel demand in Europe.
The two-phase expansion plan involves six LNG trains to boost the liquefaction capacity to 126 million tonnes per annum (Mtpa) by 2027, from 77Mtpa.
The first North Field East (NFE) phase is anticipated to add 33Mtpa while the NFS phase would add 16Mtpa.
The sources revealed that Shell and Exxon are anticipated to be named as additional partners for the NFS project in the coming weeks.
Qatar Minister For Energy and QatarEnergy CEO Saad al-Kaabi was cited by the news agency as saying, to the Energy Intelligence Forum in London, that three partners would join the NFS project.
A Shell spokesperson said: “QatarEnergy runs the process for developing North Field South […] and will make any related announcements.”
A UK-based oil and gas company, Corallian Energy owns licence P2596, which comprises the Victory gas asset.
Reabold co-CEO Stephen Williams said: “The net proceeds to be received will provide Reabold with improved financial flexibility to consider further acquisition opportunities and develop its existing assets.
“In addition, we believe this transaction will result in the production of indigenous natural gas resources that will enhance the UK’s energy security position.”