The Strategist

Qatar to ramp up LNG capacity by 85% by end of decade

02/27/2024 - 10:06

Qatar intends to raise its capacity to produce liquefied natural gas (LNG) by almost 85% by the end of this decade, according to a news statement from the country's state-owned QatarEnergy.

Currently, the nation has the capacity to produce over 77 million tons of LNG annually. The number will increase to 142 million tons annually by the end of 2030, according to remarks made on Sunday by Saad bin Sherida Al Kaabi, the minister of energy for Qatar and the CEO and President of QatarEnergy.

Qatar is one of the major LNG exporters in the globe along with Australia and the US.

The finding of more deposits at the North Field helped the nation increase its estimate of proven natural gas reserves of more than 80 billion barrels of condensate and more than 2,000 trillion cubic feet of reserves.

The energy giant Shell earlier forecasted that by 2040, the world's demand for LNG will have more than doubled to 625–685 million tons annually, and would only continue to rise.