TotalEnergies has been selected by QatarEnergy as the orst equity investor in the gas-rich Mideast Gulf state's ff28.75 billion North Field East (NFE) LNG project, with more stakeholders to be announced in coming weeks. Under the structure of the highly anticipated deal announced Sunday, Total will hold a 25% interest in a new joint venture alongside state-owned QatarEnergy at 75%. The venture will, in turn, hold a 25% interest in the 32 million ton per year NFE project, which is the orst of two phases of expansion totaling 48 million tons/yr. This will give Total a 6.25% stake in total NFE capacity, which is equivalent to a volume of 2 million tons/yr of LNG.
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