QatarEnergy Names Shell Partner for LNG Expansion Project

Qatar's Energy Minister, Saad al-Kaabi, and CEO of Shell, Ben van Beurden, gesture after a singing agreement at a press conference in Doha, Qatar, October 23, 2022. (Reuters)
Qatar's Energy Minister, Saad al-Kaabi, and CEO of Shell, Ben van Beurden, gesture after a singing agreement at a press conference in Doha, Qatar, October 23, 2022. (Reuters)
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QatarEnergy Names Shell Partner for LNG Expansion Project

Qatar's Energy Minister, Saad al-Kaabi, and CEO of Shell, Ben van Beurden, gesture after a singing agreement at a press conference in Doha, Qatar, October 23, 2022. (Reuters)
Qatar's Energy Minister, Saad al-Kaabi, and CEO of Shell, Ben van Beurden, gesture after a singing agreement at a press conference in Doha, Qatar, October 23, 2022. (Reuters)

QatarEnergy's chief executive on Sunday named Shell a partner on the Gulf Arab state's North Field South expansion, part of the world's largest liquefied natural gas (LNG) project.

Shell will have a 9.3% share of the project and QatarEnergy will keep 75%, Saad al-Kaabi, who is also state minister for energy, said at a news conference.

The development contract for North Field South would be awarded in the first quarter of 2023, Kaabi said.

QatarEnergy was open to discussing working with Shell in all energy sectors, he added.

The North Field is part of the world's biggest gas field that Qatar shares with Iran, which calls its share South Pars.

State-owned QatarEnergy earlier this year signed deals for North Field East, the first and larger phase of the two-phase North Field expansion plan, which includes six LNG trains that will ramp up Qatar's liquefaction capacity from 77 million tons per annum to 126 million tons by 2027.

TotalEnergies, Shell, Exxon, ConocoPhillips and Eni took stakes in the North Field East expansion phase, and last month TotalEnergies was named as the first partner in the North Field South project.

QatarEnergy had said partners for the North Field South would be selected from those already involved in the first phase.



SAMA Licenses 'Nama United Financing' Company to Provide Finance Activity

SAMA Licenses 'Nama United Financing' Company to Provide Finance Activity
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SAMA Licenses 'Nama United Financing' Company to Provide Finance Activity

SAMA Licenses 'Nama United Financing' Company to Provide Finance Activity

The Saudi Central Bank (SAMA) licensed "Nama United Financing" company to provide real-estate finance, production assets finance, small and medium enterprise finance, finance lease, and consumer finance.

According to SPA, this addition brings the number of finance companies licensed and permitted by SAMA to 64 companies.
This decision reflects SAMA's endeavour to support the Finance sector, increase the efficiency of financial transactions, and promote innovative financial solutions for financial inclusion in Saudi Arabia.
SAMA emphasizes the importance of dealing exclusively with authorized financial institutions. To view licensed and permitted financial institutions, visit SAMA's official website.