Two people familiar with the preparations told the agency that LNG production is expected to start in the first quarter of 2027. Saad Sherida Al-Kaabi, the chief executive of QatarEnergy and Minister of State for Energy Affairs, stated last month that the first unit will likely be online in the first half of 2027. He cautioned that equipment delivery for later units would be delayed if shipping via the Strait of Hormuz is disrupted.
Each of the four massive production lines, or ‘trains’, at North Field East can produce roughly 8 million tonnes of LNG annually. The project aims to increase Qatar’s yearly export capacity from 77 million to 110 million tonnes. The growth coincides with Qatar’s efforts to recover from the March attacks on Ras Laffan by Iran. The attacks affected about 17% of the nation’s export potential, damaging two LNG production facilities.
Separately, according to sources close to the deal, Bloomberg said on Wednesday that QatarEnergy has obtained a $3 billion (€2.68 billion) loan from four Chinese banks. According to the report, Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, and China Construction Bank (Asia) all contributed to the five-year loan.
The funds are intended for ordinary working capital. The loan was priced fifty basis points, or half a percentage point, more than the US dollar lending benchmark known as the Secured Overnight Financing Rate.
According to data collated by Bloomberg, the transaction will increase Chinese banks’ lending in the Gulf, which increased more than fivefold to a record $11.5 billion (€10.29 billion) in 2025, excluding bilateral loans.
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