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Shell set to plough £1.3bn in Qatari natural gas project as it looks to bolster energy security and transition to net zero
By CITY & FINANCE REPORTER FOR THE DAILY MAIL|
Shell is ploughing £1.3bn into a Qatari gas project in a huge boost to supplies. The oil giant will take a 9.4pc stake in North Field South, which will expand Qatar’s liquified natural gas output by 16m tons a year.
Qatar is trying to consolidate its position as the world’s biggest natural gas exporter by ramping up capacity from 77m tons per year to 126m tons per 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 net zero CO2 emissions. Shell boss Ben Van Beurden said its investment in the gas field, run by stateowned QatarEnergy, will help bolster energy security and the transition to net zero.
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