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Qatar to boost production of natural gas

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(4 Jul 2017) The energy-rich Gulf nation of Qatar, facing further isolation from its neighbours amid an ongoing diplomatic rift, said on Tuesday it plans to boost production of liquefied natural gas by 30 percent over the coming years.Qatar Petroleum President and CEO Saad Sherida al-Kaabi said the increase should eventually give Qatar the capacity to produce 100 million tons of liquefied natural gas per year, up from 77 million tons now.The increased capacity could come online by 2022 to 2024.The anticipated production increase stems from a decision to double output from a new gas project on the southern portion of its vast underwater North Field, which Qatar shares with its neighbour Iran.The Arab countries have demanded Qatar curb its ties with Iran.The timing of the announcement suggests that OPEC member Qatar, the world's largest producer of liquefied natural gas, aims to project an image of business-as-usual economic strength as it weathers the crisis.Saudi Arabia, the United Arab Emirates, Egypt and Bahrain cut ties with Qatar early last month in large part over their allegations that it supports extremist groups - a charge Qatar rejects. On Monday, it handed over a response to a 13-point list of demands made by the four Arab countries aimed at resolving the row.Al-Kaabi said Qatar does not have any current plans to stop exporting gas to the UAE, but he said he would not rule it out if the crisis continued.Qatar currently sends about 2 billion cubic feet (56 million cubic meters) of natural gas a day to the UAE through the undersea Dolphin Energy pipeline, providing about a third of that country's needs. About 200 million cubic feet of that goes onto Oman.You can license this story through AP Archive: http://www.aparchive.com/metadata/you... Find out more about AP Archive: http://www.aparchive.com/HowWeWork

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AP Archive 4104661 4c2e80c62da86a01174cbab937343813 Qatar Gas United Arab Emirates Middle East Doha Qatar Business Lifestyle
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