Qatar aims to produce 126 million tons per year of LNG...

A Qatari official announced, on Monday, that his country aims to produce 126 million tons of liquefied gas annually by 2027.

Saad bin Sherida Al Kaabi, Minister of State for Energy Affairs, Managing Director and CEO of Qatar Petroleum, said, “In 2019 we announced the goal of raising production to 126 million tons per year by 2027, and as history has shown, I do not think we will stop at this goal.”

The Qatari minister’s statements came in a video call during the opening of the ninth LNG Producers and Consumers Conference held in Japan entitled “Cooperation between producers and consumers after the Coronavirus (Covid-19),” according to the official news agency (QNA).

“We continue to strive to develop our natural gas resources and to be the leaders in the LNG chain in the world,” Al-Kaabi said.

According to the agency, Al-Kaabi stressed the importance of cooperation between LNG producers and consumers “to achieve further growth and prosperity.”

He said: “It is no secret that the Corona virus has disrupted many aspects of our lives, in addition to the painful human losses, this virus has created painful facts that have impeded the growth and prosperity that all countries had hoped to achieve.”

Al Kaabi added, “During these difficult times, Qatari LNG continued to flow into all markets, thanks to the outstanding performance of our companies and facilities, the flexibility of our global LNG portfolio, our market reach, and our LNG fleet.”

He added, “We are moving forward with full strength in the expansion projects of the North Field, and we expect that all remaining engineering, procurement and construction contracts will be signed before the end of 2020.”

The Qatari minister affirmed his country’s commitment to its customers and partners.

The Qatari minister said, “Despite the pandemic, we continue to strengthen and expand our cooperation with all our existing long-term partners, as well as with new partners around the world, which provides more security and diversity in LNG supplies.”

And he considered that “despite the pressures imposed by the pandemic on national economies and LNG markets, there is no doubt that the best for the LNG industry is coming.”

The LNG Producers and Consumers Conference was launched in 2012, and is considered an annual occasion for global dialogue, discussing the latest developments in the LNG market, and discussing opportunities and challenges with a view to developing it.