« BackNews: Qatar Petroleum Plans To Boost LNG Production

Qatar Petroleum Plans To Boost LNG Production

Qatar Petroleum (QP) has announced that it intends to significantly increase its liquified natural gas (LNG) production to 100 million tonnes per year, up from the 77 million tonnes per year it currently produces.

ShipInsight noted that the increase in production will consolidate QP’s position as the world’s leading LNG producer.

The company’s president and CEO Saad Sherida Al-Kaabi commented: “We are developing a global business and are also enhancing our competitive position as a global energy player, leaving our positive mark across the world.”

According to the news provider, the increased LNG production is part of QP’s new corporate strategy and core values, which it recently published.

Meanwhile, other countries are working on ways to catch up with Qatar - and Australia, the other leading LNG producer. Bloomberg recently noted that Russia is looking at ways to boost its LNG production, including by partnering with Saudi Arabia.

The news provider revealed that the Russian gas producer Novatek PJSC is currently considering working with Aramco - a Saudi oil company - to develop LNG reserves in the Arctic. The two companies have reportedly signed a memorandum to enable them to explore a collaboration.

Novatek PJSC is planning a $20 billion plant under its Arctic LNG-2 project, with the scheme set to begin in 2022 or 2023. However, the firm also wants to build a regasification plant in Saudi Arabia, Russian energy minister Alexander Novak revealed.

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