Qatar hired engineers for a planned $29 billion expansion of its capacity to produce liquefied natural gas, seeking to cement its position as the world’s biggest supplier of the fuel.
While Australia, the U.S. and other producers have been ramping up output, Qatar’s LNG capacity has stayed mostly flat for a decade. Gas, a cleaner-burning alternative to crude oil, is seen as an important fuel for bridging the global transition from petroleum to solar energy and other renewables.
State-run Qatar Petroleum selected Chiyoda Corp. of Japan and London-based TechnipFMC Plc to do construction work worth around $13 billion, Qatar’s energy minister and QP Chief Executive Officer Saad Al-Kaabi said at a signing ceremony in Doha on Monday.
“This was the main contract we were waiting to sign to finalize the costs of the project,” Kaabi said. QP will award an agreement to build storage tanks within the next two weeks and will sign almost all other project-related deals by the end of the year, he said.
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