Qatar Energy has signed a major deal with India’s Larsen & Toubro (L&T) for a key gas project. This contract, worth between $4 billion and $5 billion, focuses on boosting gas production at the North Field.
L&T Energy Hydrocarbon received a letter of intent from QatarEnergy LNG. This contract includes engineering, procurement, construction, and installation (EPCI) services. The project involves building two large gas compression systems, compression platforms, flare gas platforms, and other necessary structures.
The North Field gas expansion aims to improve gas compression facilities and increase production. Qatar wants to maintain its leadership in liquefied natural gas (LNG) exports. This project plays a crucial role in achieving that goal.
QatarEnergy chose L&T for this massive project because of its expertise in energy infrastructure. This selection strengthens the partnership between Qatar and India in the energy sector. The key phrase “Qatar chooses L&T” highlights the significance of this decision.
The first phase of the North Field gas expansion is already underway. Italian contractor Saipem is handling the engineering, procurement, construction, and installation for the initial phase. QatarEnergy continues to invest in long-term energy projects to meet global demand.
Following this announcement, L&T’s stock price increased. Shares on the Bombay Stock Exchange rose by 2%, reaching INR3,480 ($40.54). This contract boosts L&T’s global reputation in the energy industry.
Qatar’s decision to work with L&T shows confidence in Indian engineering and technology. “Qatar chooses L&T” for one of its largest energy projects. This deal will enhance natural gas production and support Qatar’s growing energy sector.
