Qatar's oil and gas company Qatar Petroleum (QP) has confirmed its LNG expansion plans in Qatar and in the United States, despite the global crisis that is prompting international oil and gas companies to cut their investment plans.
Qatar Petroleum maintains its plans to raise its domestic gas liquefaction capacity by 64% from the current 77 Mt/year (104 bcm/year) to nearly 126 Mt/year (170 bcm/year) by 2027, thanks to the gas reserves of its giant North Field (1,760 Tcf, i.e. around 49,800 bcm). Yet, the group will seek to raise debt to finance the North Field gas and LNG projects. Delays in the bidding process will postpone the start of the first new LNG trains from 2024 to 2025. The North Field LNG project will consist of six new LNG trains, with a combined capacity of 48 Mt/year; the first three trains rated 7.8 Mt/year each and the fourth train (8.6 Mt/year), which were expected in 2024, should be followed by two additional LNG trains rated 8 Mt/year by 2027.
In addition, Qatar Petroleum still expects to commission its Golden Pass LNG project in Texas (United States) on schedule. The group owns a 70% stake in the 15.6 Mt/year liquefaction project, which is expected to start production in 2024 (full operations in 2026).
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