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Market Chatter: Chiyoda to Resume Qatar LNG Plant Construction After Iran Conflict Evacuation

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Japanese engineering firm Chiyoda (TYO:6366) is set to restart work on a liquefied natural gas facility in Qatar, a joint project with France's Technip Energies, Nikkei Asia reported Tuesday.

All evacuated personnel are expected to return to the North Field East development site as early as this month, the report said.

Local staff and their families were evacuated by March 16 due to escalating Middle East tensions linked to the U.S.-Israeli war in Iran, following an Iranian missile attack on Ras Laffan on March 18, Nikkei said.

The North Field East project will produce 32 million metric tons of LNG annually, about half of Japan's yearly imports, for buyers including Italy, Germany, and China, with initial shipments planned for 2026 and completion set for 2027, the report added.

Chiyoda's shares rose more than 2% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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