12 June 2022

CEO of TotalEnergies to QNA: About USD 2 Billion is the Company's Investments in North Field East Expansion Project

  • QNA Images

Doha, June 12 (QNA) - The Chairman and CEO of TotalEnergies Patrick Pouyanne, revealed that the volume of his company's investments in the North Field East Expansion Project, for which the partnership contract was signed with QatarEnergy today, amounts to about USD 2 billion, according to preliminary estimates.
He also expected, in an interview with Qatar News Agency (QNA), that the Al Kharsaah plant would be operated by solar energy next July, to be officially inaugurated in October of this year. He said that the official opening of the Al Kharsaah plant will coincide with the start of the FIFA World Cup Qatar 2022, where Qatar has committed to being a carbon-neutral edition.
He pointed out that the company has a strategy to promote and develop the gas sector, considering the agreement signed with QatarEnergy today very important, and it is a new addition to the programmed plans.
Pouyanne stressed the importance of the timing of the announcement of the new partnership in light of the huge demand for liquefied natural gas in Europe at the present time.
"We have a lot of demand for gas in Europe, so it is important for us of course to have more gas, and more energy resources in Qatar in the long term," he said.
He added that the Europeans have been partners with the State of Qatar for a long time, stressing that the State of Qatar will contribute to the security of supplies to Europe in partnership with European companies.
He stressed that the world needs more gas, considering that gas is a good complement to renewable energy sources, as it provides the ability to provide powerful energy sources to consumers. It is a reliable source of electricity, with a combination of renewable energy and gas, and in the case of new projects can also make the process much cleaner.
He pointed out that TotalEnergies has many projects with Qatar, adding: "We are discussing together a long-term partnership, and we have this series of LNG projects now, and maybe in the future as well." He pointed out that discussions with the Qatari side also include a possible cooperation on the marketing of liquefied natural gas, describing it as important in light of global challenges.
The Chairman and CEO of TotalEnergies noted the importance of the price of gas in determining the identity of suppliers, saying: "I think for the Europeans that if they want gas, they will have to give a good price." 

When it comes to oil supplies, Chairman and CEO of Totalenergies Patrick Pouyanne said that now it is rather easy given that oil is available on the market. Logistics is the challenging issue, where he said that "Russian oil use to be delivered to Europe through large pipelines; therefore the main issue is to find the logistic services that can deliver the oil found in the North Sea, in Norway, or even in the Middle East. Thus, finding the oil source is not the complicated part, but rather it is the logistic services, supply chains and the new pipelines that will be used to cool it down, that are complicated."
  Pouyanne pointed out that as long as Europe does not sanction gas, TotalEnergies will continue to deliver Russia liquefied natural gas from Russia to Europe, but if Europe imposes sanctions, then the company will stop.
He also called for soothing energy prices in international markets, as they are currently very high for consumers, "which is not good, and everyone must find the right balance." he added.
TotalEnergies CEO remarked the deep and historical relation between his company and the State of Qatar on many levels, saying: "There is a long history between our company and Qatar. We know one another very well, and we have strong mutual trust."
Pouyanne noted the partnership between TotalEnergies and Qatar Foundation in the field of research and development where he said: "We have a lab here by the way, which is an international air quality lab, and we also have competent team here that not only works towards enhancing air quality in Qatar, but rather in the whole world, which is why it can be said that it is a world center for air quality. Furthermore, we are partners with Qatar Museums."
TotalEnergies CEO elaborated that his company supports the sport industry in Qatar, were it sponsors the Tennis tournament Qatar TotalEnergies Open Ladies.
To conclude his statement to QNA, Pouyanne said there are many more domains in which TotalEnergies and Qatar share responsibility. (QNA)


Economy, Qatar
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