The increase will raise Qatar’s LNG production from 77 million to 100 million tonnes per year
Qatar Petroleum (QP) announced its intention to raise Qatar’s LNG production by 30% – from 77 million to 100 million tonnes per year.
The additional volumes will be secured by doubling the size of the new gas project in the southern sector of the North Field, which Qatar Petroleum announced last April. This will increase the North Field’s production of natural gas, condensate and other associated products equivalent to one million barrels of oil per day.
The announcement was made by Qatar Petroleum President and CEO Saad Sherida Al-Kaabi.
Last April, we announced our intention to develop a new gas project in the southern sector of the North Field that can be targeted for export. With the conclusion of further technical studies, 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, which constitutes a 20% increase from the current North Field production rate, or about 1 million barrels of oil equivalent per day.’
Al-Kaabi also added:
This project will strengthen our position as the world’s largest LNG producer and exporter in line with Qatar Petroleum’s strategic growth plan and objectives. Once completed, within 5-7 years from now, this project will raise our production to about 6 million barrels of oil equivalent per day.
The QP president and CEO also expressed his hopes of further enhancing Qatar’s leading position in the global gas industry, while meeting the growing needs of its customers worldwide.
The planned production increase will also contribute to monetising Qatar’s resources and to stimulating the domestic economy as well as the country’s overall development in line with the Qatar National Vision 2030 led by the wise leadership of His Highness Sheikh Tamim Bin Hamad Al Thani, the Emir of the State of Qatar.’
For more updates on QP’s LNG production, visit their website at qp.com.qa.