QP to up LNG output in new strategy
DOHA, February 15, 2018 – Qatar Petroleum unveiled its new corporate strategy on Wednesday, announcing that it plans to increase its LNG production from 77 million to 100 million tonnes per year in the near future.
The increases would come partly through further development of the domestic North Field and partly through an expansion internationally, the statement added. In recent weeks, QP purchased a 25% stake in Block 11B/12B offshore South Africa from Total and won stakes in five Mexico offshore blocks following the Latin American country’s deepwater Round 2.4 auction.
“The new strategy and values come at a critical time in our expansion, and will ensure that we continue to be a global LNG leader,” said Saad Sherida Al Kaabi, QP’s CEO and president. “We are developing a global business and are also enhancing our competitive position as a global energy player, leaving our positive mark across the world.”