Satyendra Pathak
Doha
Minister of State for Energy Affairs and Qatar Petroleum President and Chief Executive Officer HE Saad bin Sherida al Kaabi on Monday announced that Qatar Petroleum will raise its LNG production capacity to 126 million tonnes per annum (mtpa) by 2027, representing an increase of 64 percent from the current 77 million tonns per annum.
Addressing a press conference in Doha, Kaabi said the estimated increase in Qatar’s LNG production comes after new drilling and appraisal work in the expanded
North Field mega project confirmed that gas reserves of the field exceeded 1,760 trillion cubic feet, in addition to more than 70 billion barrels of condensates, and massive quantities of LPG, ethane, and helium.
During the past two years, he said, Qatar Petroleum worked diligently to determine the degree to which the North Field extends towards the south west, as well as the possibility of production from Qatar’s northern coastal onshore areas.
Kaabi said the latest appraisal well, NF-12, was drilled onshore in the Ras Laffan Industrial City about 12 km from the shore.
"Our appraisal efforts have borne fruit, and we have confirmation that the productive layers of the North Field extend well into Qatari land in Ras Laffan. Studies and well tests have also confirmed the ability to produce large quantities of gas from this new sector of the North Field,” Kaabi said.
Highlighting the positive impact of the findings on Qatar’s gas industry, Kaabi said, "These findings will enable us to immediately commence the necessary engineering work for two additional LNG mega trains with a combined annual capacity of 16 million tonnes per annum.”
"This will raise Qatar’s LNG production from currently 77 million tonnes to 126 million tonnes per annum by 2027, representing an increase of about 64 percent. This would also boost Qatar’s total output to 6.7 million barrels of oil equivalent per day (boed) from around 4.8 million boed in the next eight years,” Kaabi said.
QP had said before it was lifting its LNG production to around 110 million tonnes per annum by 2024, and that it would build four new production facilities, known as LNG trains.
With the addition of about 16 million tonnes of LNG output annually from the Golden Pass project in Texas, Kaabi said, QP’s production of natural gas after the increase both inside and outside will reach 142 million tonnes annually.
On the volume of investment planned for expected increase in LNG production, Kaabi said that QP is going ahead with its first phase of LNG output increase as per schedule. "In the first phase, which is scheduled to end by 2024, there still remain three or four contracts that need to be signed to round off the contracts for this phase. Once all these contracts are awarded, we will be in a position to figure out the accurate amount of investment for the next phase to be completed by 2027,” he said.
While Asia remains the major market for Qatar’s LNG, Kaabi said, QP has signed several agreements recently to diversify the market for its products.
QP recently signed a long-term agreement with a Belgian company to receive, restore and re-vaporise liquefied natural gas at the LNG unloading services at the Zeebrugge LNG Terminal.
The minister pointed out that QP also owns the largest LNG terminal in Wales to receive Qatari gas coming to Britain and pump it back into Britain’s National Grid Gas.
Qatar is also a partner in the Adriatic LNG terminal in Italy, he said adding that all these efforts reflect QP’s plans to diversify its markets away from the Asian continent.
Doha
Minister of State for Energy Affairs and Qatar Petroleum President and Chief Executive Officer HE Saad bin Sherida al Kaabi on Monday announced that Qatar Petroleum will raise its LNG production capacity to 126 million tonnes per annum (mtpa) by 2027, representing an increase of 64 percent from the current 77 million tonns per annum.
Addressing a press conference in Doha, Kaabi said the estimated increase in Qatar’s LNG production comes after new drilling and appraisal work in the expanded
North Field mega project confirmed that gas reserves of the field exceeded 1,760 trillion cubic feet, in addition to more than 70 billion barrels of condensates, and massive quantities of LPG, ethane, and helium.
During the past two years, he said, Qatar Petroleum worked diligently to determine the degree to which the North Field extends towards the south west, as well as the possibility of production from Qatar’s northern coastal onshore areas.
Kaabi said the latest appraisal well, NF-12, was drilled onshore in the Ras Laffan Industrial City about 12 km from the shore.
"Our appraisal efforts have borne fruit, and we have confirmation that the productive layers of the North Field extend well into Qatari land in Ras Laffan. Studies and well tests have also confirmed the ability to produce large quantities of gas from this new sector of the North Field,” Kaabi said.
Highlighting the positive impact of the findings on Qatar’s gas industry, Kaabi said, "These findings will enable us to immediately commence the necessary engineering work for two additional LNG mega trains with a combined annual capacity of 16 million tonnes per annum.”
"This will raise Qatar’s LNG production from currently 77 million tonnes to 126 million tonnes per annum by 2027, representing an increase of about 64 percent. This would also boost Qatar’s total output to 6.7 million barrels of oil equivalent per day (boed) from around 4.8 million boed in the next eight years,” Kaabi said.
QP had said before it was lifting its LNG production to around 110 million tonnes per annum by 2024, and that it would build four new production facilities, known as LNG trains.
With the addition of about 16 million tonnes of LNG output annually from the Golden Pass project in Texas, Kaabi said, QP’s production of natural gas after the increase both inside and outside will reach 142 million tonnes annually.
On the volume of investment planned for expected increase in LNG production, Kaabi said that QP is going ahead with its first phase of LNG output increase as per schedule. "In the first phase, which is scheduled to end by 2024, there still remain three or four contracts that need to be signed to round off the contracts for this phase. Once all these contracts are awarded, we will be in a position to figure out the accurate amount of investment for the next phase to be completed by 2027,” he said.
While Asia remains the major market for Qatar’s LNG, Kaabi said, QP has signed several agreements recently to diversify the market for its products.
QP recently signed a long-term agreement with a Belgian company to receive, restore and re-vaporise liquefied natural gas at the LNG unloading services at the Zeebrugge LNG Terminal.
The minister pointed out that QP also owns the largest LNG terminal in Wales to receive Qatari gas coming to Britain and pump it back into Britain’s National Grid Gas.
Qatar is also a partner in the Adriatic LNG terminal in Italy, he said adding that all these efforts reflect QP’s plans to diversify its markets away from the Asian continent.