Shell has announced its investment in a massive liquefied natural gas (LNG) project which is described as the largest project in the history of the LNG industry.
The energy giant, which signed a deal with QatarEnergy, will hold 25% in a joint venture company that will own 25% of the North Field East expansion project.
The deal includes four mega LNG trains with a combined annual capacity of 32 million tonnes.
The project will be integrated with carbon capture and sequestration technology to reduce emissions.
Shell Chief Executive Officer Ben van Beurden said: “Through its pioneering integration with carbon capture and storage, this landmark project will help provide LNG the world urgently needs with a lower carbon footprint.
“Lower carbon natural gas is a key pillar of our “Powering Progress” strategy and will also help us achieve our target of becoming a net zero emissions business by 2050.”
