Qatar aims to be the world’s biggest producer of liquefied natural gas for at least the next two decades, capitalizing on rising demand as the world transitions from oil and coal to cleaner energy.
Qatar will spend billions of dollars expanding its LNG capacity more than 50% to 126 million tons a year. That’s a level other countries will struggle to match, Energy Minister Saad Al-Kaabi said in an interview with Bloomberg Television.
The country is already the world’s main supplier of the super-chilled fuel, but new projects elsewhere -- especially in Australia and the U.S. -- have eroded its dominance.
The Persian Gulf nation will be able to produce LNG from the first phase of the expansion so cheaply that it will be viable even if oil prices fall below $20 a barrel, said Al-Kaabi. “This is one of the most competitive, if not the most competitive, projects on the planet,” he said.
No comments:
Post a Comment