Qatar Petroleum Increases LNG Deals

Qatar Petroleum Increases LNG Deals

The world’s largest Liquefied Natural Gas (LNG) producer, Qatar Petroleum, announced new long-term LNG deals, the company’s chief executive told S&P Global Platts in an interview on Monday.

Qatar’s Energy Minister and Qatar Petroleum’s CEO, Saad al-Kaabi, said that the company is expected to sign the deals by Q4 2019, which will see an increase in QP’s current 80% sales of its volumes to long-term buyers.

Qatar Petroleum’s LNG expansion is expected to bring increase its output capacity to 110 million tons per year from the current 77 million tons per year. The expansion project is expected to take off by 2024, and is currently accepting onshore contracts for tendering.

“We have three very solid bidders, and probably we will decide by the end of this year, or the first quarter [of 2020],” he said.

“We have selected a few companies giving them documents for what they’d like to bid for, and they are,” Al-Kaabi said. “The one that has something that will be of benefit to us will come in and if not we’ll just continue on our own.”


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