Qatar Petroleum to award LNG expansion deals by end 2019

Image courtesy of Qatar Petroleum

Qatar Petroleum is moving forward with its plans to increase the country’s LNG output by 30 percent, from 77 million tons per year to 100 mtpa in order to meet the rising global demand. 

Speaking at a conference in Washington, Qatar Petroleum president & CEO Saad Sherida Al-Kaabi, said that the contracts for the production expansion project would be awarded by the end of next year.

He added that the target of 100 million tons of LNG per year would be met by the end of 2023.

Al-Kaabi stressed that LNG industry is facing challenges, as it is “a capital-intensive industry that requires the ability to make investment decisions,” adding that the industry “requires a long-term financial commitment by consumer countries to secure long-term offtake agreements and supplies.”

For Al-Kaabi, LNG should not be seen as a transition fuel but also a destination fuel.

But the industry requires action by consumer countries for the establishment of receiving LNG terminals, and accompanying infrastructure in order to boost access to the fuel.

Share this article

Follow LNG World News

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >