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This contract will be executed by a joint venture led by Chiyoda Corporation with Technip France from Paris, and is part of a $14 billion master project to supply gas mainly to the United States, starting in 2008 and continuing over 25 years.
Each train is designed to produce 7.8 million tons per annum of LNG, with Train 6 scheduled for start up in late 2008, and Train 7 approximately a year later.
Implementation of these new LNG trains with a capacity of 7.8 MTA each, as well as Qatargas II LNG Trains 4 & 5 with the same capacity, which are also being executed by Chiyoda and Technip, represents a big step towards Qatar becoming the world's largest supplier of LNG with expected total annual production of 88 MTA by 2010.
Train synergies
This expansion project will take advantage of synergies with its existing trains. The project is the largest LNG import project that has been announced for supplying gas to the US, and makes Qatar Petroleum and ExxonMobil leaders in supplying the important US natural gas market. Delivery of LNG to the US is targeted to begin in 2008/2009 and will extend for over 25 years.
Qatar Petroleum has a 70% equity interest in this project and ExxonMobil has 30%. The new LNG trains will be constructed at the existing RasGas LNG plant site in Ras Laffan Industrial City where Chiyoda has completed existing Trains 3 and 4 and is currently executing Train 5.
Qatar's North Field holds around 15% of the world's total proven gas reserves and is the third largest gas field in the world. This once neglected resource is now the focus of hugely ambitious expansion plans which call for massive foreign direct investment.
This year Energy Minister Abdullah bin Hamad Al Attiya revealed that Qatar has plans to invest $75 billion in a succession of energy projects by 2012.
He said the projects would make the country the world's largest exporter of LNG with production rising from an expected 20 million tonnes this year, to 88 million tonnes in 2012.
