Qatar’s energy sectors poised for growth as investment surges: EIC report

Qatar’s energy sectors poised for growth as investment surges: EIC report

London — Qatar, the world's top exporter of Liquified Natural Gas, is poised to ramp up its production of hydrocarbon, especially of LNG, as energy producers from around the world vie to make up for lost supplies resulting from Russia’s war on Ukraine, according to a report by the Energy Industries Council, one of the world’s largest energy trade associations. Qatar aims to bolster its position as a key contributor to the energy transition, supported by its abundant reserves of natural gas, the report said. The Arab Gulf state currently has 18 projects under development across the oil and gas sectors, with an estimated capital expenditure (CAPEX) of $60.2 billion. According to the report, Qatar aims to substantially increase its liquefied natural gas (LNG) production from 77 million metric tonnes per annum (mtpa) to 126 million mtpa by 2027. Multiple contracts worth billions of dollars have already been awarded by QatarEnergy, the state-owned energy company, for the construction and expansion of LNG facilities. Qatar's ambitious LNG expansion plans reinforce its position as the world's largest LNG exporter. The downstream sector is also set to see significant growth through the Ras Laffan Petrochemical Project (RLPP). QatarEnergy, in partnership with Chevron Phillips,