• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 12 hours Norway horrified as new rates make EV charging prices higher than petrol
  • 5 hours 60 mph electric mopeds
  • 3 hours US-China tech competition accelerates: on Friday 05/15 new sanctions on Huawei, on Monday 05/18 Samsung chief visits China
  • 2 hours COVID 19 May Be Less Deadly Than Flu Study Finds
  • 4 hours China to Impose Dictatorship on Hong Kong
  • 6 mins Payback Time: Republican Senators turn the tables on Democrats. The difference is the Republican investigations are legit.
  • 3 hours Iran's first oil tanker has arrived near Venezuela
  • 9 hours Why 2030-Isn.t-The-Magic-Year-For-Electric-Vehicles
  • 11 hours Monetary and Fiscal Policies in Times of Large Debt:
  • 13 hours DEFIANCE – There are More of Us Than Them
  • 11 hours Ventura County to Replace Natural Gas Generation with Battery Storage
  • 13 hours Trumpe will win next election, hands down.
  • 17 hours Let’s Try This....
The Oil Bulls Are Back

The Oil Bulls Are Back

Some positive news about a…

Jet Fuel Demand Will Take Years To Recover

Jet Fuel Demand Will Take Years To Recover

The coronavirus pandemic swept across…

Qatar Shortlists Oil Majors For LNG Expansion Project

Qatar Petroleum has shortlisted several Big Oil firms willing to buy a stake in Qatar’s mega project to expand its liquefied natural gas (LNG) export capacity, and will look at what the majors could offer in exchange for a piece of the project, the head of the Qatari state-held company told Reuters in an interview published on Monday.

Qatar has announced plans to increase its LNG production capacity by 43 percent—from 77 million tons annually now to 110 million tons a year. The new export capacity includes expansion projects set to be completed in 2024. Qatar will be competing with Australia and the United States over the next few years for the world’s top LNG exporter title.

Qatar has already sent to international oil companies invitations to bid on the mega project, and if it decides to do it with partners, it will announce the decision in early 2020, Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and president and chief executive at Qatar Petroleum, told Reuters.

“We like the partnership model for many benefits. But because we don’t need the partners, what’s going out is basically a set of criteria that we have, to demonstrate to us what added value we get for Qatar if you come in,” Kaabi said, noting that the companies could be willing to give Qatar stakes in projects or upstream developments outside Qatar in exchange for a stake in the Qatari LNG expansion.

The manager of Qatar Petroleum, however, did not disclose which majors had been shortlisted to bid on the expansion of the North Field gas facilities.

Shell, Total, Exxon, Chevron, and Eni are all said to be vying for a piece of Qatar’s expansion, Reuters reported last month.

To compete on the global LNG market, Qatar will look to sign more long-term supply agreements, including in Europe, Kaabi told Reuters.

Last week, Qatar Petroleum signed a long-term agreement for LNG unloading services at the Zeebrugge LNG Terminal in Belgium with natural gas transport company Fluxys Belgium.

“Qatar Petroleum has long invested in and anchored LNG receiving terminal capacity in Europe, a key gas market, as part of our supply destination portfolio diversification strategy,” Kaabi said in a statement.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News