Qatar Increases LNG Production and Supply

In 2023, the USA overtook Qatar as the world’s largest exporter of liquefied natural gas (LNG). And while Washington announces cutting investment in the industry, Doha is resuming it.

For years, Qatar has sought to develop projects to produce and export gas by tankers, a practical way of transporting the fuel without pipelines that has proved to be particularly useful to European nations after supplies from Russia and the Persian Gulf countries were reduced. The country has announced further increase in investment to bring production capacity to 124 million tons by 2030.

In other words, this is 85% more than current volumes and, according to Italian economic newspaper Il Sole 24 Ore, 12% more than previous targets. This was stated by Qatar’s Energy Minister Saad Sherida al-Kaabi while announcing the North Field West project during a press conference at QatarEnergy’s headquarters in Doha.

New research and testing have actually confirmed that the huge North Field deposit extends further than previously thought, allowing for a new production project at Ras Laffan with a capacity of approximately 15-16 million tons per year (MTPA). The additional resources are estimated to increase Qatar’s reserves from 1760 to more than 2000 trillion cubic feet (TCF).

“We continued geologic and engineering research. Today, I am pleased to report that this major effort has confirmed the expansion of the North Field pay zones further west, which means the opportunity for us to produce significant additional volumes of gas,” the Minister explained. As gasworld.com notes, “this will take Qatar’s gas industry to new horizons.”

The announcement came at a time when gas prices are nearing historic lows. But according to al-Kaabi, the gas market in Asia will continue to grow, and Europe will also need gas: “We still think gas has a great future, at least for 50 years.”