DOHA : Qatar said on Monday it aimed to lift production of liquefied natural gas (LNG) by 64% to 126 million tonnes per year by 2027, putting oil majors racing to secure a stake in the Gulf country’s expansion plans under pressure to make the best offer.
The expansion of Qatar’s LNG facilities is the world’s largest and one of the energy sector’s most lucrative projects.
The world’s top oil and gas majors have showered state energy giant Qatar Petroleum with some of their most prized ventures for a role in QP’s new LNG project.
The estimated increase in Qatar’s LNG production comes after new drilling and appraisal work in the expanded North Field mega project showed that confirmed gas reserves of the field exceeded 1,760 trillion cubic feet, chief executive of Qatar Petroleum Saad al-Kaabi told reporters in Doha.
