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Qatargas has changed its name to QatarEnergy LNG to reflect the tiny Gulf nation’s commitment to continue to be one of the top suppliers of LNG globally, the parent company QatarEnergy said on Thursday.
QatarEnergy LNG, with the new name and a new logo, highlights Qatar’s growing role in meeting global energy needs, especially demand for natural gas, according to QatarEnergy.
“It also reflects QatarEnergy’s continued commitment to LNG as a critical source of energy for decades to come and a vital enabler of the energy transition,” the Qatari state-held energy giant said.
Established in 1984 as Qatargas, QatarEnergy LNG now operates 14 LNG production trains and is at the center of QatarEnergy’s efforts to raise Qatari LNG production capacity to 126 million tons per annum, the company said. ?
Commenting on the rebranding and name change, Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said,
“We are reaffirming our belief in the future of LNG as a primary source of energy for decades to come and placing greater emphasis on the central position LNG occupies in our strategic priorities, development efforts, and energy investments.”
In July this year, Al-Kaabi said that “40% of all the new LNG that will come to the market by 2029, when all our projects are up and running, is going to be from QatarEnergy.”
The United States and Qatar are frontrunners – by a mile – as the LNG exporters best positioned to capture the global demand for additional supply capacity over the next two decades, Wood Mackenzie said in a report earlier this year.
Qatar announced in 2021 the world’s largest LNG project, which is set to raise its LNG production capacity from 77 million tons per annum (mmtpa) to 110 mmtpa. The Gulf gas and oil producer also plans another expansion phase at the North Field, the world’s largest natural gas field, which it shares with Iran. The second expansion phase will be the North Field South Project (NFS), set to further increase Qatar’s LNG production capacity from 110 mmtpa to 126 mmtpa, with an expected production start date in 2027.
By Charles Kennedy for Oilprice.com
Charles is a writer for Oilprice.com