Isolated Qatar plans to boost gas output by 30%

The countries, which include Egypt, Saudi Arabia, United Arab Emirates, and Bahrain, had given Qatar a list of demands, including shutting down Al Jazeera and paying an unspecified amount in reparations for "loss of life and other financial losses caused by Qatar's policies in recent years". "After further assessment, we have decided that the best way to develop this huge project is by dedicating it to the production and export of liquefied natural gas", Kaabi said.

Qatar said Tuesday that their demands were impossible to meet, as a deadline was fast approaching for the emirate to respond.

Asked what would be Qatar's share in the world LNG market once Doha achieves 100Mta target, al-Kaabi said it would be hard to predict at present since it would depend on various factors such as production from elsewhere.

"We will remain the leader of LNG for a very long time".

Qatar in April lifted a self-imposed ban on development of the North Field, the world´s biggest natural gas field, and announced a new project to develop its southern section, increasing output in five to seven years. Such an increase would surpass Australia's planned expansion and reinforce Qatar's role as a major global supplier-even amid a regional dispute and commercial boycott by a Saudi Arabia-led coalition of countries. "Basically what it's saying is, 'We are going to promote LNG as a substitute for oil,"' he said.

Reports quoting Saad Sherida al-Kaabi, the CEO of Qatar Petroleum, said his company meant to raise production from 77 million tonnes of natural gas to 100 million tonnes a year by 2024. "This new project will strengthen Qatar's leading position", Kaabi said.

The Saudis and their partners claim Qatar is supporting terrorism in an alliance with Iran. Qatar denies the coalition's allegations that it sponsors terrorism and has said the group's demands were created to be so tough that it would reject them. "Qatar is not backing down", she said from London.

At the end of May, QP signed an agreement with Japanese engineering company Chiyoda to carry out a detailed study to identify modifications required to debottleneck capacity at Qatar's LNG trains at Ras Laffan, which will process additional quantities of gas produced from the new North Field gas project.

QP announced in early April plans to develop a new gas project in the southern sector of the North Field with a capacity of about 2 Bcf/d for export.

"We have absolutely no fear of having the embargo in place", he said.

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