Shell buys into Qatar LNG project in race to secure fuel for Europe

Shell became the latest international energy company to invest in Qatar’s $29bn (€28.3bn) liquefied natural gas project, clinching a 6.25% stake as Europe races to secure new supplies of the fuel.

Shell joins TotalEnergies and Exxon Mobil in the venture, which will boost Qatar’s LNG output capacity by more than 40% to 110 million tons a year. The Persian Gulf nation is one of a handful of countries ramping up capacity as gas buyers jostle for supplies in a bid to reduce dependence on Russia.