Qatar: the world’s leading producer of LNG.
After its listing on the stock exchange, the French company Technip Energies and its Japanese partner Chiyoda have won a large contract that will allow Qatar to increase its production of Liquefied Natural Gas by more than 40%. The portion of the project awarded to the French Japanese joint venture is worth a total of $13 billion, half of which is for Technip. It includes the delivery of four giant gas liquefaction units – each with a capacity of 8 million tons of LNG per year – and associated infrastructure. According to Chiyoda, a system to capture and store CO2 is also planned. This new system would reduce the new site’s greenhouse gas emissions by a quarter.
The new Qatari facilities will be connected to the world’s largest natural gas field, the offshore North Field, which Qatar shares with Iran. Indeed, the North Field East Project represents a total investment of 29 billion dollars. It is therefore the largest natural gas project in history.
According to Wood Mackenzie, Qatar’s production costs are among the lowest in the world for LNG, along with those of the Siberian Arctic Yamal and Arctic LNG2, which are two projects developed by Russia’s Novatek and its partner Total.
These new facilities will enable it to further increase its exports. After their gradual commissioning in 2025 and 2026, Qatar plans to increase its exports from 77 to 110 million tons per year. This will enable it to maintain its position as the world’s leading LNG producer. But Qatar has to face another country: The United States has massively increased its capacity to export its cheap shale gas. Australia’s production is set to stagnate.
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