The country on the southwestern part of the Gulf Coast is the world’s largest exporter of liquefied natural gas. It is now preparing a project that will consolidate Qatar’s position as a global leader in LNG exports.
Qatar will increase LNG exports
Exxon Mobil, Total, Royal Dutch Shell and ConocoPhillips will participate in a project that will significantly increase the production of natural gas, which will be released to the world as Liquefied Natural Gas (LNG). Qatar is expected to increase its LNG exports by at least 64 percent by 2027. Citing knowledgeable sources, Reuters reported.
Qatar Energy invited four companies to participate
Qatar’s state-owned Qatar Energy has decided to invest $30 billion to adequately increase production capacity in the country’s northern deposits. However, the government does not want to finance the project itself, so it has invited four mining companies to participate in the expansion. But this would not be news to them either, as they are already involved in Qatari gas production.
Together, the companies would have a stake of between 20 and 25 percent in the project. The project aims to increase Qatar‘s gas export potential to Europe, which is seeking to reduce its dependence on gas imports from Russia.