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Qatar is set to announce a series of additional contracts to sell gas to Europe and Asia, reported Bloomberg.
According to the country’s energy minister and head of QatarEnergy Saad Al-Kaabi, the Middle Eastern nation could also form new partnerships for the expansion of the North Field project.
This move is part of a strategic effort to boost Qatar’s LNG production capacity by nearly two-thirds to 126 million tonnes by the end of this decade.
Qatar, a leading LNG exporter, is actively securing sales contracts for its increased capacity.
Qatar, a leading LNG exporter, is actively securing sales contracts for its increased capacity.
These efforts aim to cement Qatar’s position as a primary supplier for the foreseeable future.
The expansion project includes the North Field South and North Field East, where international energy giants such as ConocoPhillips, Shell, TotalEnergies, ExxonMobil and Eni have acquired stakes.
China Petroleum & Chemical Corporation (Sinopec) has committed to a 27-year LNG purchase agreement from the North Field South project and holds a minor stake in the North Field East project.
Al-Kaabi hinted that a partnership similar to the Sinopec deal could be announced shortly.
Recent LNG supply agreements have also been signed with India’s Petronet and Bangladesh’s Excelerate Energy.
Al-Kaabi dismissed concerns over potential threats to LNG shipping routes in the Red Sea, stating that most of Qatar’s LNG is shipped eastward and that western-bound cargoes would simply face longer transit times.
Meanwhile, QatarEnergy and Chevron Phillips Chemical have commenced the construction of a $6bn integrated polymers complex in Ras Laffan Industrial City.
The complex will house what is claimed to be the Middle East’s largest ethane cracker, with a 2.08 million tonnes per annum (mtpa) ethylene capacity, and two high-density polyethylene units with a combined capacity of 1.68mtpa.
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