QATAR is expected to retain its position as the world’s largest LNG exporter by 2050, according to a report released by Gas Exporting Countries Forum (GECF). GEFC is the association of 19 member countries, which together represent 70 percent of the world’s proven gas reserves, 44 percent of its marketed production, 52 percent of pipeline, and 51 percent of LNG exports in the world. The report also noted that Qatar along with Iran will contribute significantly in the growth of natural gas production in the Middle East. Qatar has emerged as an important and reliable partner for countries across the globe in providing clean energy. The country is going ahead with its plans to expand the production of gas. Qatar Petroleum (QP), early this month, signed a deal for developing its $28.75bn North Field East Project (NFE) which is the world’s largest LNG project. This expansion is a good news not just for Qatar because the project will generate substantial revenues for Qatar, but for the entire world as it paves way for increase in supply of an environment friendly and cleaner fuel. The expansion will raise Qatar’s LNG production capacity from 77 million metric tons per annum (MMTPA) to 110MMTPA. This investment decision is a clear demonstration of the unwavering commitment by Qatar to supply the world with the clean energy it needs. Qatar has launched many steps to produce energy in an environment friendly manner. As per the GEFC report, the gas market will progressively become more interconnected and less regionalised due to the projected extension of total gas exports. The share of traded LNG will increase to approximately 48 percent of all traded gas in 2030 and 56 percent in 2050, respectively. LNG regasification from existing, under construction, potential, proposed, stalled and speculative projects is expected to be around 1,398MMTPA, including 896.1MMTPA in Asia, and 201.5MMTPA regasification projects in Europe. Qatar’s LNG expansion plan consists of two phases. The NFE project represents the first phase of LNG expansion in Qatar, while the second phase, is referred as the North Field South Project (NFS). In the second phase Qatar’s LNG production capacity will increase from 110MMTPA to 126MMTPA by 2027. The NFS project was initiated as a result of Qatar Petroleum’s successful onshore appraisal activities in the North Field and targets the monetisation of gas from the southern sector of the North Field. Qatar LNG expansion plan shows country’s commitment t
