Qatar to Lead in LNG Exports
Qatar sits on the world’s largest proven reserves of natural gas and is progressing to become the world’s leading gas exporter with investments to develop six large liquefied natural gas (LNG) trains.
Qatar is set to witness the highest LNG production expansion globally with the total capacity reaching 126 million tonnes per annum (mtpa) by 2029. The country plans to grow its LNG output by 40% to 110 mtpa by 2027 while global LNG demand is expected to grow about 3 to 5% each year between 2021 and 2025, according to analysts.
Ras Laffan North Field Expansion will be the largest upcoming liquefaction terminals in the world among 30 new liquefaction terminals that are expected to commence operations globally, by 2025. The biggest long-term LNG contract signed in 2021 was between Qatar Petroleum and CNOOC Limited. According to the contract, Qatar Petroleum will supply 3.5 mtpa of LNG from 2022 to 2036 to CNOOC Limited.
Qatar’s North Field is the world’s single largest non-associated offshore natural gas field. The total cost of the North Field Expansion project will be $43 billion, making it the largest of its kind in terms of capacity in the LNG industry.
The project will cover the construction of 6 mega trains of LNG, each with a capacity of 8 mtpa, in two phases called the North Field East Project (NFE) and the North Field South Project (NFS). In the two phases, total production capacity will increase from 77 to 110 mtpa and 126 mtpa, respectively. This will increase the country’s LNG exports by 64%, making it to lead the exports of LNG globally.
The enormous LNG programme is in parallel to the Qatar National Vison 2030 and is certain to provide a substantial push to the country’s economy.