After the biggest first quarter for global upstream dealmaking in five years, the industry could see another $150 billion of merger and acquisition M&A deals in the remainder of 2024. With global M&A deal value crossing the $64 billion mark already this year, it represents the strongest first-quarter performance since 2019 and a 145% increase on the first quarter of 2023, fueled primarily by consolidation in the US shale patch.
, Saudi Aramco and QatarEnergy, are bolstering their gas and liquefied natural gas LNG portfolios, allowing them to cut emissions and diversify their domestic economies away from a reliance on oil revenues. and Aramco are actively exploring further expansion opportunities in the LNG sector, including potential investments in the West. QatarEnergy announced the North Field West NFW development earlier this year, aimed at boosting Qatar’s LNG capacity to 142 million tonnes per annum Mtpa, surpassing the previous target of 126 Mtpa.
and QatarEnergy are pursuing international expansion alongside their longstanding partners, BP and TotalEnergies. By Rystad Energy
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