UPDATE 1- #Qatar LNG production to rise to 126 mln T by 2027- QP CEO - Reuters

UPDATE 1-Qatar LNG production to rise to 126 mln T by 2027- QP CEO - Reuters:

Qatar’s production of liquefied natural gas (LNG) will rise to 126 million tonnes per year by 2027 from 77 million tonnes now, the chief executive of state energy giant Qatar Petroleum said on Monday.

The expansion of tiny but gas-rich Qatar’s LNG facilities, already the world’s largest, is one of the energy sector’s most lucrative projects, and the world’s top oil and gas majors have been racing to secure a stake.

The estimated increase in Qatar’s LNG production comes after exploration work in the expanded North Field mega project showed that confirmed gas reserves of the field exceeded 1,760 trillion cubic feet, Saad al-Kaabi told reporters in Doha.

That would also boost Qatar’s output to 6.7 million barrels of oil equivalent per day (boed) from around 4.8 million boed in the next 8 years, Kaabi said.