67682
Qatar Says Will Increase LNG Production Capacity
Qatar Says Will Increase LNG Production Capacity

Qatar Says Will Increase LNG Production Capacity

Qatar Says Will Increase LNG Production Capacity

Qatar Petroleum plans to boost gas production from its giant North Field, which it shares with Iran, by 20% after new gas development, the company's chief executive said on Tuesday, despite sanctions imposed on the Persian Gulf Arab state by its neighbors.
In April, Qatar lifted a self-imposed ban on development of North Field, the world's biggest natural gas field, and announced a new project to develop its southern section, increasing output in five to seven years, Reuters reported.
"That new project will raise Qatar's total liquefied natural gas production capacity by 30% to 100 million tons from 77 million tons per year," Qatar Petroleum's CEO Saad al-Kaabi told a news conference in Doha.
Global LNG demand was 265 million tons in 2016, according to Royal Dutch Shell's annual LNG outlook.
"After further assessment, we have decided that the best way to develop this huge project is by dedicating it to the production and export of liquefied natural gas," Kaabi said.
"We have decided that the best option would be to double the size of the project to 4 billion cubic feet of gas per day ... This project will strengthen our position as the world's largest LNG producer and exporter."
Kaabi said QP will need to build new LNG trains to meet the expansion in capacity.
"We will be looking for international partners to join us," he said, declining to say when a tender would be issued.
The announcement comes a day after France's Total signed an agreement with Iran to develop its part of the shared offshore gas field that is called the South Pars in Iran's territory.
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.
"We know what they [the Iranians] are doing and they know what we are doing," he said. Iran has made a rapid rise in production from South Pars a top priority.

 

Short URL : https://goo.gl/7u2dWY
  1. https://goo.gl/WgafCq
  • https://goo.gl/BMhDtD
  • https://goo.gl/97Uzv8
  • https://goo.gl/y4FoYE
  • https://goo.gl/Dt4xRX

You can also read ...

NIOC has concluded MoUs with Austria’s OMV and Thailand’s PTTEP for undertaking surveys on the oilfield.
Singapore-based Berlanga Group has signed a memorandum of...
Essar’s Oct. Iran Oil Imports Fall
Indian private refiner Essar Oil’s imports from Iran fell by...
Tehran and Dushanbe have discussed the idea of using tracts of land in Tajikistan for cultivating crops to be imported back to Iran.
In his first overseas trip as Iran's energy minister, Reza...
IEA: US to See Most Crude Output Growth in 10 Years
The United States is expected to account for more than 80% of...
Just two offshore companies accounted for 45% of the total owed creditors this year.
Offshore oil drilling and services companies, hurt by the...
S. Arabia’s Falih: 50% of Excess Oil Remain
The world will still have a surplus of oil by the end of March...
Oil Prices Set for Weekly Fall
Oil prices rose on Friday but remained en route for their...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus