• 3 minutes Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 5 minutes Could Tesla Buy GM?
  • 11 minutes Global Economy-Bad Days Are coming
  • 17 minutes Venezuela continues to sink in misery
  • 3 hours OPEC Cuts Deep to Save Cartel
  • 3 hours What will the future hold for nations dependent on high oil prices.
  • 9 hours Congrats: 4 journalists and a newspaper are Time’s Person of the Year
  • 4 hours Price Decline in Chinese Solar Panels
  • 1 day End of EV Subsidies?
  • 6 hours USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 10 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 19 hours Permian Suicide
  • 1 day GOODBYE FOREIGN OIL DEPENDENCE!!
  • 1 day Asian stocks down
  • 1 day Maersk's COO statment.
  • 23 hours IT IS FINISHED. OPEC Victorious
Is This The Answer To Global Warming?

Is This The Answer To Global Warming?

As the world attempts to…

Is Gasoline Demand Really Slipping?

Is Gasoline Demand Really Slipping?

In a somewhat befuddling scenario,…

Qatar To Boost Gas Output To Keep Top LNG Exporter Status

Qatar North Field

Qatar is lifting a self-imposed moratorium on the development of its part of the world’s biggest natural gas field and is launching a new gas project at North Field in a bid to raise its gas exports and remain competitive in the global LNG market.

Since 2005, Qatar has chosen to continue a self-imposed moratorium on the development of its North Field, including constructing new LNG export facilities; as such, no new projects were expected in Qatar until 2020 at the earliest.

Today, Qatar’s state-held company Qatar Petroleum said in a statement that it plans to develop a new gas project in the North Field, the part of the field that Qatar shares with Iran, which calls its section of the world’s biggest gas field South Pars.

Work on the project’s details is expected to begin in the coming months, the Qatari company said.

“Qatar Petroleum’s technical studies and assessment of the North Field have confirmed the potential for developing a new gas project that can be targeted for export with a capacity of about 2 billion cubic feet per day. It is worth noting that a project of this size will increase the current production of the North Field by about 10%, which will add about 400,000 BBL/D (barrels per day) of oil equivalent to the State of Qatar’s production,” the company’s President and CEO Saad Sherida Al-Kaabi said.

The project for resuming development at North Field will “further strengthen Qatar’s leading position as a major player in the global gas industry,” Al-Kaabi noted.

Related: What Is Putin Planning For Ukraine?

Qatar Petroleum has more than doubled its oil and gas production since 2006: total oil, gas and condensate output hit 5.17 million barrels of oil equivalent daily in 2015. By this measure, Qatar Petroleum is now the world’s #4 hydrocarbons producer, ahead of Russia’s giant Rosneft, with its 5.1 million boed of daily output.

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
-->