Qatargas, Shell Sign LNG Delivery Agreement to Kuwait
Qatargas and Shell have signed an agreement to deliver 1 mtpa of LNG to Kuwait starting this year. The sale and purchase agreement is believed to reflect the regional drive to establish more-sustainable energy resources and infrastructure, as well as Qatar’s efforts to expand its role in the LNG market despite a continued climate of low prices.
The LNG will come from the Qatargas 4 project, a joint venture between Qatar Petroleum (70%) and Shell (30%). Qatargas 4’s offshore facilities produce approximately 2.9 Bcf/D of gas from the North Field, with LNG trains possessing capacity to produce 7.8 mtpa of LNG each, and approximately 70,000 B/D of natural gas liquids.
The North Field lies off the north-east shore of the Qatar peninsula and covers an area of more than 6,000 km2, equivalent to about half the land area of the State of Qatar.
Qatar has stated a goal of expanding LNG production from 77 to 126 mtpa by 2027. The announcement follows the January sale and purchase agreement between Qatar Petroleum and the Kuwait Petroleum Corporation to supply 3 mtpa of LNG to Kuwait. The country’s future oil and gas consumption is expected to increase as the result of a strong economy and population growth, as well as its infrastructure’s continued reliance on petroleum-based products.
Study Outlines Potential Economic Impacts of GOM Oil and Gas Industry Through 2040
The economic impact report looked at scenarios involving current policies and potential bans on both drilling permits and offshore leases.
India Looking To Store Oil in the US Petroleum Reserve
India may be the second country to lease space in the US SPR. Capacity at the SPR has been building for the past 5 weeks.
Premier Recasts First Oil for Tolmount, Seeks Acquisition Deal with BP
North Sea system now on track for completion in Q2 2021.
Don't miss out on the latest technology delivered to your email every two weeks. Sign up for the OGF newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.