Qatar Petroleum is nearing the final stages of deciding on the bids it has received in order to win a stake of about 30% in the first phase of expanding the North Field, which ranks as the largest single gas project The issue is in the world, according to what industry sources familiar with the matter told CNBC Arabia.
A source in one of the investment banks advising on the potential deal said that Qatar Petroleum had already received offers from European companies such as (Royal Deutsche Shell) in addition to offers From American companies, including (ConcoPhillips) and (ExxonMobil), at a time when Chinese government-owned companies entered into direct negotiations in order to win the deal.
The source added that the list of Chinese companies that showed interest in the matter included (Sinopec) and (Petrochina), which made the competition fierce to win a share in the project. Another source said that the Chinese government-owned PetroChina is negotiating a 5-7% stake in the project.
The entry of Chinese companies into the competition line coincides with Beijing's pursuit of a shift to clean energy by increasing reliance on gas at a time when the world's second largest economy is about 8.3 % of global demand by the end of 2020, according to data from the International Energy Agency.
And about the possible date for deciding on the offers, a source told (CNBC Arabia), that it may take place during the third quarter of this year or the last quarter at the latest. appreciation.
The sources added that moving forward with the project is a top priority for the government-owned company, after the first issuance of dollar bonds in 15 years last month, through which the company raised about 12.5 billion in what ranks as the largest offering in emerging markets since the beginning of this year.
The company said in the prospectus that the proceeds of the offering will be directed to the expansion of the North Field project, in addition to other investment expenses.
Data seen by CNBC Arabia indicates that Qatar accounted for about 22% of the world's liquefied gas supplies in the past at a time when Doha is seeking to boost Its presence in the industry scene globally.
Qatar Petroleum owns about 70% of the shares of Qatargas, which in turn owns 7 liquefied gas projects in the world's largest commodity exporter.
Qatar Petroleum seeks to raise its annual production to about 110 million tons annually through the first phase of the project at a time when the current production capacity is about 77 million tons.
