Qatar is set to sign record LNG deals in 2023

DOHA, July 12, 2023 – Qatar is positioning itself to sign record volumes of long-term LNG offtake contracts, Qatar’s Minister of State for Energy Affairs Saad Sherida Al Kaabi said at a conference in Vancouver on Tuesday.

The minister said the country is on the path to take on 40% of global LNG output by 2029.

This will partially be achieved by upping gas and LNG production through its North Field expansion project, which aims to produce 48 million tonnes per year of LNG by 2027.

The minister also pointed to a US joint venture with ExxonMobil that will add between 16 million tonnes and 18 million tonnes of LNG production per year when complete.

The Golden Pass LNG facility in Texas received government approval in April 2022.

NOC QatarEnergy holds a 70% operating stake in the project.

Qatar is on track to produce 126 million tonnes per year of LNG by 2027, up from its current production of 77 million tonnes per year.

The announcement follows a slew of recent LNG offtake agreements, including deals with China, Bangladesh and Germany.

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