Qatar has built an outsized role in global commodity markets since it first began exporting liquefied natural gas more than two decades ago.
Now, following Russia’s invasion of Ukraine and a series of deals to develop a new gasfield, the Gulf state’s influence over international energy flows is set to grow even larger.
QatarEnergy, its state-owned gas producer, has in recent weeks announced joint-venture agreements with five of the world’s biggest international oil companies to develop a vast $29bn project known as North Field East.
The project aims to increase Qatar’s annual export capacity from 77mn tonnes to 110mn tonnes by 2026, helping it to overtake Australia as the second-biggest producer of the fuel behind the US.
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