Qatar’s energy minister, Mr. Saad-al-Kaabi has stated that Qatar is expected to sign a record volume of long-term LNG offtake contracts, and will be supplying nearly 40 percent of new global LNG output by 2029. The 40% supply estimate is based on Qatar’s domestic LNG production, and a joint venture with Exxon Mobil.
Jul 12, 2023
Qatar will be signing long-term LNG offtake contracts in record volumes, as per a statement by Qatar’s energy minister. Mr. Saad-al-Kaabi, the Minister of Energy, spoke at the LNG 2023 conference and said that Qatar will be supplying nearly 40 percent of new global LNG output by 2029. Last year, the country approved expansion projects that will boost its LNG output by 64% to 126 million tons per year by 2027.
Mr. al-Kaabi shared that the 40% supply estimate was based on Qatar’s domestic LNG production, as well as Qatar’s joint venture with Exxon Mobil that will add between 16 and 18 MTPA when complete. “Some people say by 2050 you do not need gas anymore. I say you need more gas. You need gas as a baseline to support wind and solar since the sun does not shine all the time and the wind does not blow all the time,” said Mr. al-Kaabi.