QatarEnergy LNG, formerly known as Qatargas, announced major new discoveries in the North Field off the coast of Qatar. The North Field is already the largest non-associated gas field in the world. With the new discoveries, Qatar's gas reserves have increased by 240 Tcf and now total more than 2,000 Tcf. The expanded reserves will allow QatarEnergy to move forward with the new North Field West LNG facility, which will export 16 mtpa (equivalent to 2.1 Bcf/d in feedgas).
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We Three Kings - U.S., Australia and Qatar Look to Grow LNG Exports Amidst Global Uncertainty
About 60% of global LNG imports in 2023 came from only three countries — Australia, Qatar and the U.S. — sometimes dubbed the “LNG Trinity.” All three are geographically remote from each other and differ considerably in terms of configuration, politics, economics and strategy. But all three are looking to consolidate and potentially grow their global presence at a time when expectations regarding future LNG demand are evolving and the role of natural gas is shifting to become increasingly complementary to intermittent renewable sources. In today’s RBN blog, we look at the differences within the LNG Trinity and how they may impact — and be impacted by — developments in the global gas market.
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How Do You Like Me Now? - Who Are the Winners and Losers With Biden's LNG Permitting Pause?
The Biden administration’s recently announced decision to pause further action on new LNG export permits for at least several months sent shockwaves through the industry and shook up expectations regarding which projects will be hurt by — or benefit from — the pause. As we’ll discuss in today’s RBN blog, the decision is likely to put a number of Gulf Coast LNG export projects (one of them a real giant) in limbo, set back a Mexican project that would depend on Permian and Eagle Ford gas, and boost a couple of projects up in Canada. Oh, and there’s this: The pause also may help two avowed enemies of the U.S.: Russia and Iran.
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Three's (Not Always) A Crowd - Qatar Stresses Scale In New Round Of LNG Expansion
Among the 21 countries able to liquefy methane and export LNG, Australia, Qatar, and the U.S. are the hands-down leaders, holding more than half the world’s liquefaction capacity among them. For now, Australia holds the top position but its capacity buildout is all but complete. While a number of liquefaction projects are planned Down Under, only one has reached the final investment decision (FID) stage in 2021, and it’s relatively small. Future growth seems much more likely to come from the two other big guns. Developers in the U.S. are cautiously thawing the plans for LNG projects they put on ice in mid-2020, when global natural gas prices slumped along with economies during the early months of the COVID-19 pandemic. And in February, Qatar, which was runner-up to Australian capacity until it slipped to third place due to recent U.S. additions, took FID on the first of two supersized projects to expand its LNG capacity. In today’s RBN blog, we discuss Qatar’s expansion plans and how they relate to developments elsewhere.
