Asif Iqbal
Doha
Qatar plans to increase gas production from its North Field, raising the country's liquefied natural gas (LNG) output by 30 percent, Qatar Petroleum President and CEO Saad Sherida al Kaabi has said.
Qatar's LNG production will rise to 100 million tonnes from 77 million tonnes per annum in the next five to seven years, Kaabi told a news conference in Doha on Tuesday.
"In April this year, we announced our plans to develop a new gas project in the southern sector of the North Field that can be targeted for export. With the conclusion of further technical studies, we have decided that the best option would be to double the size of the project to 4 billion cubic feet of gas per day, which constitutes a 20 percent increase from the current North Field production rate, or about 1 million barrels of oil equivalent per day," Kaabi told reporters on Tuesday.
When asked about plans for de-bottlenecking of some of its trains to raise LNG output, Kaabi said,"It is also one option and QP is conducting feasibility studies on that front. We will explore all options, including building new trains to raise our LNG output to 100 million tones." added.
The QP president said once the plant begins production in the next 5-7 year, it will strengthen Qatar's position as the world's largest LNG producer and exporter in line with QP growth plan and objectives of becoming one of the best national oil and gas companies in the world, with roots in Qatar and a strong international presence.
He said the completion of the project will raise the production of Qatar to about 6 million barrels of oil equivalent per day.
Kaabi said it would be developed through Joint Venture (JV) and with its partners but refused to divulge the details.
The QP CEO has said the company"will not be affected by the siege".
"Qatar Petroleum and its subsidiaries are conducting business as usual throughout all its upstream, midstream and downstream businesses and operations and in all activities across all of QP's facilities," Kaabi said.
He said Qatar has always offered the best business atmosphere to international companies and has followed ethical standards.
"If any international company does not want to work with us, QP can develop this new project 100 percent by itself," Kaabi added.