LNG

Qatar Petroleum has received offers for double the equity available to potential partners in the bidding process for the North Field East liquefued natural gas export plant expansion project in the Gulf.

The Public Investment Fund of Saudi Arabia, the nation’s sovereign wealth fund, has increased its stake in utility company ACWA Power, whose joint venture partner in a major Saudi green-hydrogen project is US LNG-equipment supplier Air Products of the US.

US LNG equipment-maker and provider Air Products posted a rise of 7 percent in fiscal full-year net income to $1.93 billion as it was awarded three major LNG contracts for plants in Mozambique in southeast Africa, Qatar and Algeria.