"Qatar Petroleum took the final investment decision for developing the North Field East Project (NFE), the world’s largest LNG project, which will raise Qatar’s LNG production capacity from 77 million tons per annum (MMTPA) to 110 MMTPA," the company said in a press release on Monday.
The NFE project will also produce liquefied petroleum gas, condensate, ethane, sulfur and helium. The production is expected to start in the fourth quarter of 2025 and it will reach about 1.4 million barrels of oil equivalent per day.
"The main scope of the [engineering, procurement and construction] EPC contract is the construction of 4 mega LNG trains with a capacity of 8 MMTPA each, with associated facilities for gas treatment, natural gas liquids recovery, as well as helium extraction and refining within Ras Laffan Industrial City," the QP added.
The world's largest LNG project is estimated to cost $28.75 billion, making it one of the energy industry's largest investments.