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ADNOC awards $17 billion in contracts to develop offshore natural gas fields with zero CO2 emissions
ADNOC announced the final investment decision and award of contracts for the Hail and Ghasha Offshore Development project. The project aims to operate with net zero carbon dioxide (CO2) emissions, reinforcing ADNOC’s legacy of responsible natural gas production and supporting its Net Zero by 2045 ambition and accelerated decarbonization plan.
His Highness Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar, laid the foundational stone of the North Field expansion project, which will raise the State of Qatar’s LNG production capacity from the current 77 million tons per annum (MMtpa) to 126 MMtpa by 2026.
Aramco has signed definitive agreements to acquire a strategic minority stake in MidOcean Energy for $500 million. MidOcean Energy is a liquefied natural gas (LNG) company formed and managed by EIG, an institutional investor in the global energy and infrastructure sectors.