North Field South - Commercial Analysis

In April 2017, Qatar announced the lifting of the moratorium on new North Field developments, which had been in place since 2005. Initially a 2 bcfd project was proposed, but this was later replaced with a 4.5 bcfd upstream development in 2018. The production increase resulted in the project being expanded to include four new 8 mmtpa trains, allowing Qatar to increase its LNG export capacity from 77 to 110 mmtpa. In November 2019, Qatar Petroleum (QP) announced a further change to the project's scope with the addition of two more 8 mmpta trains, bringing the total number to six. This decision to further raise the expansion's capacity followed successful appraisal drilling confirming the onshore extension of the North Field's reservoirs. The latest expansion will see Qatar raise its LNG export capacity from 77 to 126 mmtpa. In April 2020, QP referred to this additional expansion as North Field South (NFS). The original expansion project for the first four 8 mmtpa trains