Qatar plans to increase gas production despite sanctions

A liquefied natural gas tanker at Ras Laffan in northern Qatar. AP

The head of Qatar Petroleum, Saad Sherida Al-Kaabi, while addressing a press conference said the country intends to raise the production of natural gas to 100 million tons a year by 2024.

Gas-rich Qatar, which is facing isolation from its neighbors amid an ongoing diplomatic rift, on Tuesday, announced plans to boost production of liquefied natural gas by 30 percent over the coming years.

State-run Qatar Petroleum said the anticipated production increase stems from a decision to double output from a new gas project on the southern portion of its vast underwater North Field, which Qatar shares with its neighbor Iran.

The country's current production is 77 million tons of LNG, which means that the expected increase in production will be 6 million barrels per day. Its timing is likely to be seen as achieving political gains instead of economic. On Monday, Qatar delivered to Kuwait its response to the list of demands issued by the four Arab countries.

The announcement comes as the Gulf faces its worst diplomatic crisis in years after Saudi Arabia and its allies imposed a sweeping embargo on Qatar last month.

In relation to the gas output hike, Al-Kaabi said Qatar wanted the increase to form part of a joint venture with global companies.

"Regarding the. possibility of embargo countries asking some of the worldwide companies or contractors not to work with us, we absolutely do not have any issue with that".

"Of course if there were to be an additional escalation, I can not say that we will never stop the gas", he said.

"The companies that choose not to work with us - that's fine, that's their choice".

According to updated info found on Qatar's RasGas' website, the North Field is the largest non-associated natural gas field in the world, with recoverable reserves of more than 900 trillion standard cubic feet or around ten percent of the world's known reserves.

"If there are no companies willing to work with us, we will do the 100 million tons", Al-Kaabi insisted.

In 1997, when its first shipment of LNG sailed to Japan, Qatar's exports were valued at around $5bn.

Related News:

  • Earnings Performance Check on General Motors Company (NYSE: GM)

    Earnings Performance Check on General Motors Company (NYSE: GM)

    In case of Revenue Estimates, 28 analysts have provided their consensus Average Revenue Estimates for Visa Inc.as 4.36 Billion. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link .
    PM Modi 'experiments' for country's betterment: Manjhi on GST rollout

    PM Modi 'experiments' for country's betterment: Manjhi on GST rollout

    GST, he said, was really a Good and Simple Tax which would just take a little getting used to like every new pair of spectacles. The integration of the Indian economy into a single entity will improve economic efficiency, it said.
    Deputies: Woman gives birth to child fathered by 11-year-old

    Deputies: Woman gives birth to child fathered by 11-year-old

    Marissa Ashley Mowry , 25, of Port Richey , was charged with sexual assault and sexual battery on an victim under 12 years of age. The Hillsborough County Sheriffs Office Child Protective Division is also investigating the incident, WFLA added .
  • Woman throws coins at plane's engines for luck

    Woman throws coins at plane's engines for luck

    Often you must have seen Indians tossing coins out of a train's window at a river body below when the train passes over a bridge. The pilot told the media that the coins could have inflicted serious damage on the engine if they had not been detected.
    Russell Westbrook wins NBA MVP; Rockets, Bucks take 2 awards

    Russell Westbrook wins NBA MVP; Rockets, Bucks take 2 awards

    I can't do this all by myself, so I appreciate them. "You can always achieve your dreams if you have faith and you sacrifice". Both players received all 100 first-team votes from a panel of sports writers and broadcasters.
    Trump disputes Russian interference in 2016 election

    Trump disputes Russian interference in 2016 election

    Trump, frequently lashes out at the Russian Federation investigation as a "witch-hunt" spearheaded by Democrats . Johnson did not say that, and no investigation has been completed, so there's no reason he would have.
  • Google will no longer mine your emails for advertising data

    Google will no longer mine your emails for advertising data

    Could their emails be read when they used the free Gmail later in their day? The company announced the change on its website. Privacy activists have long complained that the scanning of email contents amounts to unwarranted "eavesdropping" on users.

    Another leadership test for Pelosi, who's weathered many

    Democrats are lagging 0-4 in congressional elections this year, having earlier lost races in Kansas and Montana. She said she has told Democrats to stop focusing on Russia's meddling in the 2016 election.
    France's Macron says European Union door remains open to UK

    France's Macron says European Union door remains open to UK

    Macron said: "Once the negotiations have started we should be well aware that it'll be more hard to move backwards". May intended as the leader of a minority Government - said it was for her to comment on the UK's intentions.
  • Goodwin Fire Near Mayer Burns More Than 4000 Acres

    Goodwin Fire Near Mayer Burns More Than 4000 Acres

    On the bright side, State Route 69 is re-opened, and the citizens of the town of Mayer have been reunited with their homes. Firefighters are working around the clock battling not only the flames but also brutal heat waves and gusting winds.
    Student freed from North Korea suffered 'severe neurological injury'

    Student freed from North Korea suffered 'severe neurological injury'

    Fred Warmbier also criticized the Obama administration , giving credit to President Trump for returning Otto to the United States. It was earlier this year Warmbier and his wife, he said, decided they would no longer practice "strategic patience".
    Magic sees Lonzo as 1 piece in Lakers' grand rebuilding plan

    Magic sees Lonzo as 1 piece in Lakers' grand rebuilding plan

    He has the talent to be an All-Star. "I think when this really came into focus for us was, we knew the talent was transcendent". I talked to, I think, four teachers, they all said at different times, this guy, everybody attracts to this guy.


Most liked

Flower breed named after Modi in Israel
They have marched on regardless of adversity and converted challenges into opportunities. The tides between our talented innovative people is natural.

My fight is to take forward Bapu's ideology: Meira
She alleged that principles like transparency and the fight to end the caste system are " under threat " in the Modi regime. The DMK's unequivocal support had strengthened the Opposition's unity, she said.

Andy Murray limps with a sore hip, pulls out of Wimbledon warm-up
Federer, now favourite with Murray only third in the betting, warned: "Andy needs to feel he could play for 14 days, or seven matches".

My Spidey-Sense Is Tingling! Watch 'The Best Parts: Spider-Man'
He said: "I had my best mate, Harrison, with me through all this and having him with me has been my touchstone to reality". It's going to be the biggest movie of all time . "Putting on the suit is one of the coolest things", he says.

Andy Murray vs. Alexander Bublik 2017 Wimbledon Pick, Odds, Prediction
The value plays on the WTA tennis odds are likely French Open runner-up Jelena Ostapenko (+1400) and Caroline Garcia (+6600). The Croatian reached the Queen's final last week and should have beaten Federer at the quarter-final stage past year.

Skip the flu shots with a skin patch
A snap system was incorporated into the device to let users know when enough pressure had been applied to the patch . Once the mixture dried, they removed it from the molds and applied the resulting patches to the skin of lab mice.

Alabama turning over voter names, birthdays, voting history to federal election commission
The voting commission has started to begin its work, with its organizational call this week and a scheduled first meeting July 19. This entire commission is based on the specious and false notion that there was widespread voter fraud last November.

USA top Democrat slams Obama administration's response to Russian hacks
The President appears to be reacting to a Washington Post story , which reported that the Central Intelligence Agency informed Mr. Then this:.under a magnifying glass, they have zero "tapes" of T people colluding.

Another Trumpcare plan: Just don't get sick
At least five Republicans have so far publicly stated that they can not support the legislation in its current form. House health care legislation negatively, according to polling conducted by the American Medical Association .

Mueller and Comey not as close as Trump and others suggest
Of course, Trump could delete the tweets at any time - he's already deleted a handful of tweets during his presidency. We've entered a realm of reality in which we cannot trust a single word that the sitting U.S.

US Reviewing Allegations Airstrike on IS-run Jail Killed Dozens of Prisoners
Last month's civilian death count of 427 from US-led coalition air strikes is more than double the previous 30-day toll from April.

Brazil's president says corruption charge is 'fiction'
Lula is being prosecuted in five separate criminal cases, on charges ranging from corruption to influence-trafficking. A third of Temer's cabinet and dozens of members of congress are being investigated for corruption .

McEnroe: Williams would be ranked 'like 700' on men's tour
We may never find out, but maybe we could one day see her take the court against McEnroe himself as the next best thing. Serena Williams is not a fan of John McEnroe saying that she would be "like No. 700 in the world" on the men's circuit.

US president wishes Muslims 'warm greetings' for Eid
The supreme court of Afghanistan confirmed Sunday, the 25th of June, as the first day of Eid-ul-Fitr in the country. So, Eid will be celebrated on the first day of Shawwal, which is the 10th month of Islamic calendar.

England 181-8 against South Africa in 3rd T20
South Africa will need to address their batting in the death overs, even though Farhaan Behardien looks in good nick. He made 105 out of South Africa A's first innings of 283 against the England Lions in Canterbury on Thursday.