State-owned Qatar Petroleum on Wednesday said that it has signed an agreement with Japan’s engineering company Chiyoda to study further boosting its liquefied natural gas capacity in order to remain the world’s largest LNG exporter.
Qatar, the top LNG producer with a capacity of about 77 Mtpa is facing a growing competition from a tide of new LNG sources mostly coming from Australia and the US.
Under the new deal, a detailed study will be undertaken to identify the modifications that are required for debottlenecking the capacity of Qatar’s LNG trains, located in Ras Laffan.
Qatar Petroleum plans to process additional quantities of gas that will be produced from the planned new North Field gas project.
To remind, Qatar Petroleum had announced last month its intention to develop a new gas project in the southern sector of the North Field with a capacity of about 2 billion cubic feet per day for export.
The study is expected to be completed before the end of this year, which will allow Qatar Petroleum to kick off the FEED work early next year, if it concludes that this option would achieve the optimum value for Qatar, the company said in a statement.
“As part of its efforts to reinforce Qatar’s leading position in the global gas industry, this agreement provides Qatar Petroleum with the option of increasing its LNG production with minimum investment, by leveraging the existing massive, world-class infrastructure and valuable synergies available in Ras Laffan Industrial City,” said Saad Sherida Al-Kaabi, Qatar Petroleum’s Chief Executive.
Besides being the world’s largest LNG exporter, Qatar is the first in the production and export of gas to liquid products (GTL) and the first in the production and export of Helium.
“Qatar Petroleum is determined to continue its lead position in the gas industry with its expansion plans, both inside and outside the State of Qatar,” Al-Kaabi added.