Qatar plans 150% gas production rise

Qatar, the world’s leading exporter of liquefied natural gas (LNG), is poised to increase its production capacity by more than 150 per cent, just as demand for the commodity is falling.

That would contribute to a global LNG supply glut likely to last through until 2013, delegates at a gas conference in Doha, the country’s capital, heard earlier today.

“We are certainly into an unexpected time for the LNG business,” said Andy Flower, an independent energy consultant and the former manager of BP’s interest in an LNG venture with state-owned QatarGas. “This year, 20 million to 25 million tonnes of extra supply will hit the market when demand will probably be 10 million tonnes less than last year.”