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Qatar on track to sell all LNG by end of 2023, energy minister says

Qatar holds long-term contracts with Asian buyers, which mainly include China, India, Japan and South Korea.

Qatar’s North Field expansion project’s liquified natural gas (LNG) sales are “going very well,” the Gulf nation’s Energy Minister Saad Sherida Al Kaabi said, pointing to a “possibility” of selling all of the LNG from the monumental project by the end of this year.

Qatar’s multi-billion North Field expansion project is the largest of its kind and is leading the country’s drive to dominate LNG supplies.

Speaking to S&P Global Commodity Insights during the Tokyo GX Week 2023 event, Al Kaabi conveyed his optimism regarding the ongoing North Field expansion and LNG sales. “It’s going very well,” he affirmed, shedding light on the promising progress of this project.

When probed about the feasibility of Qatar’s goal to sell all the North Field expansion LNG by year-end, Al Kaabi who is also QatarEnergy’s CEO responded: “There is a possibility.”

He acknowledged the collaborative nature of such agreements, saying: “It takes two sides to agree, right? We are working with a lot of people,” though the official fell short of disclosing more information on the matter.

The minister had previously stated in May that Qatar aimed to secure all long-term LNG contracts arising from the North Field expansion’s two phases by the end of the current year.

QatarEnergy LNG, formerly known as Qatargas, is at the forefront of the country’s ambitious LNG expansion plans, boasting 14 LNG production trains currently in operation. QatarEnergy has affirmed its central role in the nation’s LNG aspirations, according to a statement.

The project is broken into two parts, the North Field East (NFE) and the North Field South (NFS).

The first is set to ramp up Qatar’s production from 77 to 110 million tonnes per annum as the NFS will increase the production capacity from 110 to 126 million tonnes per annum.

QatarEnergy announced eight international partnership agreements last year for both phases of the projects, set to kick start in 2026 and 2027.

In a bid to amplify its global footprint, the Gulf state has unveiled ambitious plans to sign a record volume of long-term LNG contracts, with a specific focus on engagement with Asian nations.

Already a prominent global LNG exporter, Qatar has set a lofty target of contributing 40% of the world’s LNG output by 2029, affirming its status as an energy powerhouse on the global stage.

Qatar holds long-term contracts with Asian buyers, which mainly include China, India, Japan and South Korea.