McDermott Wins Offshore Work for Qatari LNG Expansion Project

Cars are parked outside the headquarters of Qatar Petroleum in Doha, Qatar, July 8, 2017. (Reuters)
Cars are parked outside the headquarters of Qatar Petroleum in Doha, Qatar, July 8, 2017. (Reuters)
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McDermott Wins Offshore Work for Qatari LNG Expansion Project

Cars are parked outside the headquarters of Qatar Petroleum in Doha, Qatar, July 8, 2017. (Reuters)
Cars are parked outside the headquarters of Qatar Petroleum in Doha, Qatar, July 8, 2017. (Reuters)

QatarEnergy said it has awarded an engineering, procurement, construction and installation (EPCI) contract for the offshore portion of its massive North Field Liquefied natural gas (LNG) expansion project to engineering company McDermott.

The project will increase Qatar’s LNG production capacity from 77 million tons per annum to 126 million tons per annum through the North Field East (NFE) and North Field South (NFS) expansion projects, with the first LNG expected in 2025.

The North Field lies off the northeast shore of the Qatar peninsula and is one of the largest single non-associated natural gas fields in the world.

According to press statement by QatarEnergy, the scope for the awarded contract includes 13 normally unmanned wellhead platforms topsides (eight for NFE and five for NFS), in addition to various connecting pipelines and the shore approaches for the NFE pipelines, beach valve stations and buildings.

The jackets and the pipelines for the NFS Project will be subject to a separate tender, which is expected to be awarded in the first half of 2022.



Biden Pledges Record $4 bln US Contribution to World Bank Fund for Poorest Countries

The World Bank logo. (File/Asharq Al-Awsat Ar)
The World Bank logo. (File/Asharq Al-Awsat Ar)
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Biden Pledges Record $4 bln US Contribution to World Bank Fund for Poorest Countries

The World Bank logo. (File/Asharq Al-Awsat Ar)
The World Bank logo. (File/Asharq Al-Awsat Ar)

US President Joe Biden has pledged a $4 billion US contribution to the World Bank's International Development Association (IDA) fund for the world's poorest countries, two sources with knowledge of the commitment said on Monday, Reuters reported.

Biden announced the US pledge during a closed session during the Group of 20 summit in Rio de Janeiro, according to the sources, who spoke on condition of anonymity.

The amount is a record and substantially exceeds the $3.5 billion that Washington committed in the previous IDA replenishment round in December 2021.