Qatar aims to boost gas output further

Nov 07, 2001 01:00 AM

Qatar has pumped nearly $ 15 bn into gas projects and would invest more to boost output capacity to more than 30 mm tpy, its energy and industry minister said. Abdullah bin Hamad Al Attiyah said Qatar produces around 10 mm tpy of LNG, but capacity exceeds 13 mm tons. "Looking down the road, we see capacity of over 30 mm tpy before the end of the decade," he told at an energy conference.

Attiyah said investments from government and foreign partners would focus on expanding current LNG plants, rather than new projects, to reduce costs. He put Qatar's gas reserves at more than 500 tcf, the third largest in the world after Russia and Iran.
Most of Qatar's natural gas is based at its giant offshore North Field, the biggest single gas reservoir in the world. "Considering the size of the North Field. We have made optimum utilisation of this resource the cornerstone of our economic and social development," he said.

Experts at the conference in the capital said Qatar needed to pump similar investments to push capacity to more than 30 mm tpy to become the world's top LNG producer and exporter, and overtake Indonesia.
Qatar is saddled with a debt of more than $ 12 bn as a result of heavy financing for the LNG projects. But it expects the debt to ease as revenues from exports pick up.

Source: Gulf News
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