Qatar Petroleum’s planned increase in its LNG production capacity will significantly boost the national economy, said HE the Minister of State for Energy Affairs Saad bin Sherida al-Kaabi.
“For many years, the local economy, construction sector in particular, will benefit from the establishment of mega trains and associated facilities for enhanced LNG production,” al-Kaabi said at a media event at the QP headquarters on Monday.
Qatar’s LNG production capacity will be raised to 126mn tonnes per year (tpy) by 2027, representing a huge increase of 64% on the current 77mn tpy.
New studies have revealed that the North Field’s productive layers extend well into Qatari land in Ras Laffan, paving the way for a new LNG production project in the north of Qatar
This is in addition to the Golden Pass LNG export facility located in Sabine Pass, Texas with a production capacity of about 16mn tonnes of LNG per year.
The project, which is owned by Golden Pass Products, is a joint venture of QP (70%) and ExxonMobil (30%).
The LNG production capacity boost will also raise Qatar’s overall hydrocarbon production to about 6.7mn barrels oil equivalent per day.
New studies have revealed that the North Field’s productive layers extend well into Qatari land in Ras Laffan, paving the way for a new LNG production project in the north of Qatar.
Al-Kaabi announced that the confirmed gas reserves of the North Field exceed 1,760tn cubic feet, in addition to more than 70bn barrels of condensates, and massive quantities of LPG, ethane, and helium.
"These results will enable us to immediately commence the necessary engineering work for two additional LNG mega trains with a combined annual capacity of 16mn tonnes per year,” al-Kaabi noted.
QP had said earlier it was lifting its LNG production to around 110mn tpy by 2024, and that it would build four new production facilities, known as LNG trains.
The minister noted the timeline was extended for the additional production.
"Now that we have added two mega trains and 16mn tonnes, the (new) target has become 126mn tonnes and this of course needs a longer period so this will be achieved in 2027," he said.
Asked whether Qatar planned to diversify its LNG supply markets mainly in Europe, the minister said, QP has already booked "full LNG regasification capacity" of Belgium's Zeebrugge terminal.
Earlier he said, “We believe this arrangement will further support our customers in Belgium and Europe in general, by providing access to reliable LNG supplies from Qatar and allowing our customers to maximise the utilisation of such supplies.”
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