Home / Oil & Energy / General Energy News / Qatar LNG industry set for bigger and wider horizons

Qatar LNG industry set for bigger and wider horizons

Qatar’s recent announcement on scaling up its LNG production capacity to 126mn tonnes per year (tpy) by 2027 will have a multiplier effect on the national economy over the coming decades.

The production boost represents a huge 64% increase on the current 77mn tpy and help Qatar consolidate its position as the world’s top transhipper and producer of liquefied natural gas.

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, HE the Minister of State for Energy Affairs Saad bin Sherida al-Kaabi noted at a media event in Doha.

Qatar Petroleum’s planned increase in its LNG production capacity will significantly boost the national economy, he said.

Effectively, Qatar’s LNG production capacity will exceed 142mn tpy annually (by 2027), when the output from the Golden Pass LNG export facility located in Sabine Pass, Texas, is also accounted for.

The Golden Pass LNG export project, which is owned by the Golden Pass Products, is a joint venture of QP (70%) and ExxonMobil (30%).

Overall, Qatar’s hydrocarbon production will account for nearly 6.7mn barrels oil equivalent per day with the LNG production capacity boost to 142mn tpy.

The expansion of Qatar’s LNG facilities is considered as the world’s largest and one of the energy sector’s most lucrative projects.

The country may also maintain its position as the holder of the largest non-associated gas reserves in the world for the foreseeable future by establishing confirmed gas reserves of 1,760tn cu ft at the North Field.

This is in addition to more than 70bn barrels of condensates, and massive quantities of LPG, ethane, and helium, a huge quantity by any standard.

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.

“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.

The North Field development project is a testament to the visionary leadership of His Highness the Amir Sheikh Tamim bin Hamad al-Thani and his guidance and strong and unlimited support to Qatar’s energy sector

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.

During the past two years, Qatar Petroleum worked diligently to determine the degree to which the North Field extends towards the south west, as well as the possibility of production from Qatar’s northern coastal onshore areas.

It is worth mentioning that the latest North Field appraisal well (NF-12) was drilled onshore in the Ras Laffan Industrial City, about 12km from shore and underwent extensive testing over the past few months.

As Minister al-Kaabi noted: “The recent findings at the North Field are very important”, which will have a great positive impact on Qatar’s gas industry, and help it move forward into bigger and wider horizons.
Source: Gulf Times

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping