The decision by Qatar Petroleum (QP) to significantly raise Liquefied Natural Gas ‘LNG’ production is an important step in boosting country’s economy. QP announced last week that it would raise Qatar’s LNG production capacity to 126 million tonnes per annum (mtpa) by 2027, which is an increase of 64 percent from the current 77 mtpa.
Qatar, with a huge reserve of over 1,760 trillion cubic feet of natural gas (including the new reserves announced last week) is reinforcing its position as the leading supplier of clean energy in the world.
QP has announced to build four new LNG trains to boost the production, and construction for these new trains will start from next year, and two these trains will be staggered at the end. This will lead to massive construction works for over the next 7-8 years in the oil, gas, and petrochemicals sector, which will give a major boost to the economy.
QP had said earlier it was lifting its LNG production to around 110 mtpa by 2024, and that it would build four new production facilities, known as LNG trains.
“With the additional number of trains for the expansion of LNG, we are going to produce additional amounts of LPG (liquefied petroleum gas), condensate, ethane and helium. So in addition to LNG facilities, we will be required to build additional facilities for storing and handling LPG. There is a possibility that we may also expand our helium plants. And then for the use of additional amount of ethane, we will also enhance our petrochemical sector,” H E Saad Sherida Al Kaabi, the Minister of State for Energy Affairs, the President and CEO of QP told reporters last week.
The LNG production capacity boost will also raise Qatar’s overall hydrocarbon production to about 6.7mn barrels oil equivalent per day.
As the largest LNG producer Qatar is also expanding capacity in many parts of the world. This includes adding 16 mtpa from Golden Pass LNG export project in the United States with its long-term strategic partner ExxonMobil.
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.
The expansion of Qatar’s LNG facilities is the world’s largest, according to experts. Qatar has been playing crucial role in ensuring energy security in global energy sector. The expansion plans of QP will further strengthen Qatar’s leading role in the world energy market.
