Qatar Petroleum’s bond prospectus showed that the company would include a $200-million investment to reduce emissions from its North Field LNG expansion project. According to the document, the project will have greenhouse gas reduction measures, including solar power use, maximization of waste heat recovery, improved efficiency with the latest available technology, the use of ultra-low NOx burners as well a carbon capture and sequestration system.
QP expects to achieve an estimated 30% reduction in greenhouse gas emissions through these measures, compared to similar existing LNG plants. The North Field expansion project is one of the largest energy projects in the world and will be carried out in two phases. The project’s first phase is estimated to cost $28.75 billion and expand domestic LNG production to 110 million tons/year from 77 million tons/year.
First gas from the expansion project is expected by early 2025, with four new 8 million tons/year liquefaction trains starting up at three to six-month intervals. With this timetable, the entire first phase of the project will come onstream by the end of 2026. The second phase is planned to increase Qatar’s LNG production to 126 million tons/year by 2027.
QP said it would grow its renewable energy capacity, including adding 4 GW of solar power plant portfolio by 2030. The company also aims to cut its total net carbon intensity from its LNG plants by 25% and upstream platforms by 15% by 2030. QP is also endorsing research to enable the use of zero-sulfur LNG for its QFlex and QMax LNG carriers. QP has a CO2 capture and sequestration capacity of 2.2 million tons/year, the largest in the Gulf region.
