LNG

Russian natural gas giant Gazprom, seeking an outlet for supplies previously delivered to Europe before the Ukraine invasion, has signed an accord with Iran to supply the  Gulf nation with pipeline gas from Russia.

Qatar Petroleum said it would now raise production capacity to 126 million tons per annum by 2027, an additional 16 MTPA from the previous expansion plan and a 64 percent increase on the current 77 MTPA of output at the Ras Laffan plant in the Gulf.

The Gas Exporting Countries Forum (GECF), the natural gas industry’s version of OPEC, has completed its summit in the city of Santa Cruz in Bolivia, with Qatar pledging to regain its position as the leading liquefied natural gas producer five years after Australia overtakes it in 2019.

Iran could export its first liquefied natural gas cargoes in 2018 under a joint venture contract with a Norwegian company that involves chartering a floating liquefaction hull built in China and available on the market.

Total, the French oil and gas group, becomes the first western energy company to return to Iran with the signing of a $4.8 billion contract on July 3 with China National Petroleum Corp. and Iranian partners to develop the South Pars field that borders the feed-gas block in the Persian Gulf adjoining the territorial waters of Qatar, the largest LNG producer.

French energy company Total has been chosen by Iran to operate the renewed development of the South Pars gas field, part of the largest developed deposit in the world. The other part is known as North Field and owned by Qatar, providing feed-gas for the Gulf state's LNG production.