Qatar has just chosen the French company "TotalEnergies" as the first foreign partner to develop the world's largest natural gas field, AFP reported. 

"I am pleased to announce the selection of TotalEnergies as the first partner in the North Field East (NFE) project," Qatar's Energy Minister Saad Sherida Al-Kaabi said at a press conference in Doha.

The French multinational oil and gas company will have a 6.25% stake in the project as part of a `joint venture' with QatarEnergy (QE), Qatar's hydrocarbons giant, TotalEnergies CEO Patrick Pouyanne said in the Qatari capital.

NFE is part of the North Field offshore expansion project, the world's largest natural gas field that Qatar shares with Iran.

The North Field accounts for about 10% of the world's known natural gas reserves, according to QE's assessment.

Such natural gas reserves extend under the sea to Iranian territory, where the Islamic Republic's efforts to exploit the South Pars field are hampered by international sanctions.

According to Minister Al-Kaabi, other agreements will be announced "in the near future."

Exxon Mobil, Shell and ConocoPhilips also intend to participate in the expansion of the project that Qatar initially wanted to finance alone, energy sector sources told AFP.

The participation of foreign oil and gas "giants" is estimated to be about 25% in the project, which is expected to cost more than $28 billion and increase production by more than 60% by 2027, QE indicates.

According to Qatar's energy minister, who also heads the QE, production is expected to begin in 2026 and the expansion is "on track."

It should be noted that Qatar is one of the world's leading producers of liquefied natural gas (LNG), along with the United States and Australia.