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Qatar to Start New Gas Project

Qatar to Start New Gas Project Qatar to Start New Gas Project

Qatar will begin operations at its Barzan gas project in November, two people close to the matter told Reuters on Sunday, as the Persian Gulf state strives to meet rising domestic energy demand as it prepares to host the soccer World Cup in 2022. The $10 billion project, a RasGas-operated joint venture between Qatar Petroleum and Exxon Mobil, was originally expected to come online in 2014. It will boost Qatari gas production by up to 56 million cubic meters per day when it reaches capacity in the first half of 2017, the sources said on condition of anonymity because the information was not public. Qatar, the world’s leading LNG exporter, faces growing domestic energy needs as it pursues a $200 billion infrastructure upgrade ahead of the World Cup tournament as well as expansion of its national airline Qatar Airways. Much of the production from Barzan, located in the North Field gas reservoir off the coast of Qatar, will be directed to the power and water sector, RasGas has said.

Financialtribune.com