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Shell Invests in Qatar’s $29 Billion Liquefied Gas Project

  • Oil major will acquire 6.25% interest, joining Exxon and Total
  • LNG buyers in Asia may also take small stakes, Al-Kaabi says
Shell Fuel Tanker Deliveries Ahead Of Earnings
Photographer: Jasper Juinen/Bloomberg
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Shell Plc became the latest international energy company to invest in Qatar’s $29 billion liquefied natural gas project, clinching a 6.25% stake as Europe races to secure new supplies of the fuel.

Shell joins TotalEnergies SE and Exxon Mobil Corp. in the venture, which will boost Qatar’s LNG output capacity by more than 40% to 110 million tons a year. The Persian Gulf nation is one of a handful of countries ramping up capacity as gas buyers jostle for supplies in a bid to reduce dependence on Russia.