France's TotalEnergies signed a new $1.5 billion deal with Qatar Energy to help expand the country's natural gas production as Europe scrambles to find new sources of energy to replace Russian supplies. The cooperation agreement was signed by Qatar Energy CEO and the country's Energy Minister Saad Al-Kabi and TotalEnergies CEO Patrick Pujane.

TotalEnergies will own 9.375% of the 25% stake in the North Field South project, which is committed to international partners, Al-Kabbi said. Qatar Energy will hold a 75% stake in NFS.

Pouyanne said we are not overly exposed to Qatar. We are excited to invest in new licenses here. Because we cannot invest in Russia, it is logical to continue to invest in Qatar, and if Qatar offers more investment, then we will invest more in Qatar.

The new deal comes as European countries are diversifying their energy imports. The North Field Expansion Project consists of two parts; the North Field East or NFE Project and the North Field South Project.

The NFE project is expected to increase Qatar’s LNG production capacity from 77 tons to 110 million tons per year, while the NFS project will increase the country’s LNG production capacity from 110 to 126 million tons per year. Keywords: engineering news, overseas news

Qatar Energy and TotalEnergies have signed five separate cooperation agreements on NFE projects worth around $29 billion. Britain's Shell, Italy's Eni and US giants ConocoPhillips and Exxon Mobil have signed on to be part of the North Field East project.Editor/XingWentao