The CEO of Qatargas has said that the Qatargas 2 project in Ras Laffan Industrial City will ensure that the country becomes the world’s leading exporter of liquefied natural gas (LNG).
Speaking in a television interview with CNN, Faisal Al Suwaidi stated that the facility was the largest of its kind in the world and the huge investment in Qatar’s oil and gas infrastructure was worth the cost.
“Ras Laffan is the future of Qatar – simply because of the reserves. This is the gas city of the world and the gas city of Qatar,” Suwaidi said on CNN’s Marketplace Middle East programme.
Qatargas 2 has already began exporting LNG to the UK and as North Sea gas supplies dwindle, Qatar will eventually provide the county with 20% of its gas requirements. The UK is seen as the first of many large customers as Qatar looks to export its huge gas reserves around the world.
Qatar has ambitious plans in regards to its gas exporters. It hopes to produce over 40 million tonnes of LNG a year by 2011. The LNG will be shipped by the company’s fleet of LNG carriers specially designed and built for Qatargas.
The Qatargas 2 project is a joint venture between Qatar Petroleum, ExxonMobil and Total. Qatar has the world’s third largest reserves of natural gas behind Russia and Iran.
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