Qatar Petroleum getting ready to boost LNG output by 30% to 100m tonnes per year

Qatar’s biggest strength is the vast reserves of natural gas it has under its land. The country is so abundantly blessed that it accounts for one-third of the global liquefied natural gas (LNG) market.

Amid the ongoing GCC crisis, Qatar Petroleum (QP) has made a bold move and announced that it was going to enhance its LNG production by 30% to 100mn tonnes per annum, reported Gulf Times.

The move is expected to substantially boost Qatar’s fast-growing economy and support the exchequer.

The boost in production will be accounted for mainly through the doubling of LNG output from the new gas project in the North Field, which is expected to be complete in the next five to seven years, according to QP president and chief executive Saad Sherida Al Kaabi.
“Last April, we announced our intention to develop a new gas project in the southern sector of the North Field that can be targeted for export. Once completed within five to seven years from now, this project will raise the production of Qatar to about 6m barrels of oil equivalent per day,” he was quoted as saying by The Peninsula.

“This new project will strengthen Qatar’s leading position. We’ll remain the leader of LNG for a very long time,” he added.

The announcement came a day after France’s Total signed an agreement with Iran to develop its part of the shared off-shore gas field that Tehran calls South Pars.

Kaabi said there is no cooperation with Iran on any project in the North Field, but the countries have a joint committee that meets every year to discuss development of the field.

When asked about plans for de-bottlenecking some of its trains to raise LNG output, Kaabi said, “It’s also one option and QP is conducting feasibility studies on that front. We’ll explore all options, including building new trains to raise our LNG output to 100m tones.” Qatar Tribune reported.

Al Kaabi said the new project would be developed through Joint Ventures, but refused to divulge details about partners.

The QP CEO has said the company ‘will not be affected by the siege.’

“If any international company doesn’t want to work with us, QP can develop this new project 100% by itself,” he said.