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Al Jazeera
Al Jazeera
Business

TotalEnergies invests $1.5bn in Qatar gas expansion project

TotalEnergies Qatar Saad Sherida AlKaabi Patrick Pouyanne Olaf Scholz Europe Natural Gas North Field QatarEnergy
CEO of TotalEnergies, Patrick Pouyanne, Qatar's Energy Minister Saad Sherida al-Kaabi have signed a new investment deal on natural gas production [Imad Creidi/Reuters]

France’s TotalEnergies has signed a new investment deal in Qatar’s natural gas production expansion as Europe scrambles to find new energy sources to replace Russian supplies.

Speaking alongside TotalEnergies chief executive Patrick Pouyanne on Saturday, Qatar Energy Minister Saad Sherida al-Kaabi announced the French energy giant will have a 9.3 percent stake in the North Field South gas project, becoming the first foreign partner in that section of the vast field.

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