Eni Wins Stake in $29 Billion Qatari Project as Gas Prices Surge
- Firm joins TotalEnergies as investor North Field East project
- Qatar Energy scheduled to announce another investor on Monday
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Eni SpA became the second foreign firm to win a stake in a $29 billion project that will expand Qatar’s production of liquefied natural gas as the energy crisis in Europe escalates and prices climb.
The Italian company will take a 3.1% holding in the project, Qatar Energy Chief Executive Officer Saad Al-Kaabi said in Doha on Sunday. It will include four new liquefaction units, or trains, that will raise Qatar’s annual LNG production capacity to 110 million tons by 2026 from 77 million.