Qatar Petroleum Plans Global Expansion Drive » Gulf Business

Qatar Petroleum Plans Global Expansion Drive » Gulf Business:

"Qatar Petroleum (QP), the world’s largest liquefied natural gas (LNG) exporter and main source of Qatar’s huge wealth, plans to expand internationally, the Gulf state’s energy minister said on Thursday.

QP businesses account for over half of Qatar’s gross domestic product and about three quarters of export earnings, with Qatari gas exports earning around $8 billion a month.

But a self-imposed moratorium on further development of Qatar’s one big gas field is forcing QP to expand abroad to maintain market share as LNG supplies from U.S., Australian and African producers rise over the next few years.

“Our new vision is to be a world class oil and gas corporation with its roots in Qatar and a strong international presence,” Energy Minister Mohammed Bin Saleh Al-Sada said at the launch of a strategy plan."

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