Total Energies to Invest $1.5 bln

France’s TotalEnergies has signed a $1.5 billion investment agreement

in expanding Qatar’s natural gas production as Europe rushes to find

new energy sources to replace Russian supplies. TotalEnergies Chief 

Executive Patrick Pouyanne, who traveled to Doha for the agreement 

signing, said the deal came at a "perfect time" to help resolve Europe's

energy crisis. President and CEO of QatarEnergy, Saad al Kaabi, said 

on Saturday that TotalEnergies would hold 9.375 percent of the 25 

percent allocated to international partners in the North Field South gas 

project. QatarEnergy retains a majority share of 75 percent. Kaabi added

that QatarEnergy was always talking to buyers globally whether in Europe 

or Asia and would continue to do so for commercial contracts for the 

expansion project as per market needs. “Half of our production normally 

goes East and half goes West, this equation may be the same or may be

60% to 40% according to market needs, 

it is a supply and demand matter,” Kaabi said.