Doha: QatarEnergy's Chief, Saad Al Kaabi, announced on Sunday a monumental expansion initiative, aiming at solidifying its position as a global leader in liquefied natural gas (LNG) production.
During a press conference held in Doha Saad Al Kaabi mentioned that the latest expansion project is poised to add 16 million tonnes per annum (mtpa) to QatarEnergy's existing expansion plans, elevating the total production capacity to an impressive 142 mtpa by 2030. Al Kaabi emphasized that this expansion represents a substantial 85 per cent increase from the current production capacity of 77 mtpa at the North Field.
Qatar, known as one of the premier LNG exporters globally, was facing heightened competition, particularly since the onset of the conflict in Ukraine in February 2022. Al Kaabi acknowledged this competitive landscape, highlighting the necessity for QatarEnergy to fortify its production capabilities. He further hinted that this latest expansion might not be the final stride for the energy giant, signalling a readiness to further amplify production based on market demands and ongoing evaluations of Qatari gas reservoirs.
The expansion initiative comes on the heels of QatarEnergy's strategic collaborations with European and Asian partners, as part of its massive North Field expansion project. Initially projected to reach 126 million mtpa of LNG per annum by 2027, Sunday's announcement signifies a considerable upward revision in QatarEnergy's ambitions.
Exploration activities in the western region of the North Field are pivotal in steering QatarEnergy's decision to embark on this expanded trajectory. While Al Kaabi refrained from divulging the exact cost of the project, he indicated that it would entail investments in the billions of dollars. Preliminary engineering studies are set to commence shortly, with cost specifics slated for announcement at a later stage.
In December, Al Kaabi disclosed QatarEnergy's exploration endeavours beyond the North Field East and North Field South phases, signalling the company's commitment to sustained growth and development in the LNG sector.
The latest expansion project will necessitate the construction of two additional LNG trains, supplementing the ongoing development of six trains for the North Field East and North Field South phases.
The North Field, which Qatar shares with Iran under the name South Pars, remains a cornerstone of Qatar's energy strategy and is part of the world's largest gas field.
The latest announcement strengthens QatarEnergy's efforts to meet the escalating global demand for LNG while cementing Qatar's position as a powerhouse in the energy sector.
Source: Arab News