Qatar Said to See $40 Billion Income Gain From Gas Expansion - Bloomberg

Qatar Said to See $40 Billion Income Gain From Gas Expansion - Bloomberg:

Qatar will generate $40 billion in additional export revenue once it completes its natural gas expansion project in 2024, according to a person with direct knowledge of the matter.

Rising income from sales of liquefied natural gas will leave the government with a budget surplus of about $44 billion in 2024, with the bulk of the extra cash going to the $320 billion Qatar Investment Authority, the country’s sovereign wealth fund, the person said, asking not to be identified because the information is private.

The world’s biggest LNG producer wants to bulk up as competing supplies from Australia and the U.S. are also set to come to the market over the next decade. State-owned Qatar Petroleum will build four new liquefaction plants, known as trains, by 2025, up from a previously announced three, Chief Executive Officer Saad Sherida Al Kaabi told reporters in Doha on Wednesday.