Qatar Invested $ 29 Billion for LNG

Qatar, the world's largest LNG producer, made an investment of $ 29 billion to increase its LNG capacity.

Qatar has invested $ 29 billion for LNG. Qatar, the world's largest LNG producer, made agreements with construction companies for a total of 29 billion dollars within the scope of the project to increase its LNG capacity. Qatar Petroleum signed agreements with Chiyoda Corp and TechnipFMC. With this project, export capacity of LNG is expected to increase by 43 percent. Saad Al-Kaabi, Qatar Energy Minister and CEO of Qatar Petroleum, stated that a deal worth approximately $ 13 billion was made with these two companies. Saad Al-Kaabi stated that the total cost of the project to increase LNG capacity will be $ 28.75 billion. Qatar, which exports 77 million tons of LNG annually, maintains its first place in the global market. However, developments in other regions, especially in Australia, may cause Qatar to lead. With this project, Qatar's annual LNG production is expected to rise to 110 million tons.