Qatar Petroleum (QP) announced earlier this week that it will raise its LNG production capacity to 126 mill tonnes per annum by 2027.
This amounts to an increase of 64% from the current 77 mill tonnes.
“With the additional number of trains for the expansion of LNG, we are going to produce additional amounts of LPG, 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, and President and QP CEO, said.
“There are so many projects to talk about but I want to focus on the gas reserves and LNG expansion project. But I want to assure that all these projects will have a very positive impact on other sectors of the economy, including the petrochemicals, construction and companies in other sectors of the economy will also benefit significantly. This will help increase the government’s revenue as well,” he added.
QP is to build four new LNG trains to boost production. Construction on the first is due to start next year, and two trains will be staggered at the end of the period.
Qatar, with a huge reserve of over 1,760 trill cu ft of natural gas (including new reserves announced this week), is reinforcing its position as the leading supplier of clean energy in the world, the Minister said.
QP recently signed an agreement with the Belgian independent natural gas transport company Fluxys Belgium to take Zeebrugge LNG’s full capacity in order to export more LNG to the European markets.
“In addition to the Zeebrugge LNG Terminal, which has a capacity to receive about 7 mill tonnes per annum of LNG, we have a terminal in Italy, we have the largest LNG terminal in the UK, and we are looking forward to announce some other projects in Europe.
“(Market) Diversity is something that we are very much looking at. And we are demonstrating it by actually doing it. We have a lot of things on the table, which will be announced at appropriate time,” the Minister said to local journalists at a meeting on Monday.