Qatar to increase LNG production by 30%

DOHA, July 4, 2017 – Despite a partial blockade by Arab countries including Saudi Arabia, the UAE, and Egypt, Qatar Petroleum plans a 30% hike in LNG production by 2024, CEO Saad Sherida Al Kaabi told reporters on Tuesday.

The company’s new project on Qatar’s North Field, Qatar’s share of the world’s largest gas deposit, will double production to 113 mcm (4 bcf) per day, Bloomberg reported. The move will raise the country’s production of LNG to 100 million tpy from 77 million tpy.

“All the studies show that between 2021 and 2024 there will be a shortage of gas because of higher demand,” Al Kaabi said.

“Therefore, the launch of our project will be between 2022 and 2024, which is the period when there will be market demand.”

Although neighbouring countries have put an embargo on Qatar, citing alleged funding of terrorist groups, Al Kaabi maintained that natural gas deliveries to the UAE would not be halted.

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