The Oil & Gas Year Qatar 2015
TOGY’s seventh edition on Qatar’s hydrocarbons market highlights a period of change for the country’s energy sector. In late 2014, Qatar Petroleum, under the leadership of Saad Sherida Al-Kaabi, the newly appointed President and CEO of the company, initiated a restructuring process to streamline its activities and become a fully integrated international energy company. Qatar Petroleum is now consolidating its international presence after absorbing its international arm, Qatar Petroleum International.
While maintaining its competitive edge on the world’s LNG markets, Qatar is also looking to diversify its economy with new petrochemical, industrial and infrastructure projects.
The Oil & Gas Year Qatar 2015 features interviews from key players in the industry, both from the public and private sector, such as former Minister of Energy and Industry Abdullah bin Hamad Al Attiyah, Gas Exporting Countries Forum’s Secretary-General Seyed Mohammad Hosseil Adeli, and ExxonMobil Qatar’s President and General Manager Alistair Routledge, among many other leaders from companies associated with the whole value-chain of oil and gas in the country.
Upstream, natural gas producer RasGas is expected to bring online the first train of the Barzan Gas Project by the end of 2015. At full capacity, the project’s two trains will produce 45.3 mcm (1.6 bcf) of gas per day, when the second train comes on line in 2016.
On May 7, 2015, Qatar Petroleum invited international oil companies – including current operator Maersk Oil – to bid for Qatar’s largest oilfield, Al Shaheen, which produces 300,000 barrels of oil per day. The field’s concession is to be renewed in 2017.
The Oil & Gas Year Qatar 2015 devotes its Year’s Focus chapter to Qatar’s domination on global LNG markets. With a production of 76.4 million tonnes in 2014, the country represented 32 percent of the world’s LNG production. This solid advantage is based on the reserves of the North Field, the largest non-associated gasfield in the world, the production capacity of the two largest LNG producers in the world, Qatargas and RasGas, and the transport capacity of Nakilat’s LNG tankers fleet, the largest in the world.
Based on this competitive edge, Qatar is now increasing the efficiency of its LNG industry, with landmark projects such as the Jetty Boil Off Gas project.
Downstream, Qatargas is also reinforcing Qatar’s condensate refining capacity with the Laffan Refinery 2 project, to be online in 2016. Qatar Petroleum is also studying the feasibility of new petrochemical projects that would use the country’s existing infrastructure.
To face growing domestic demand for electricity in the run up to the FIFA 2022 World Cup, Qatar is also increasing its power generation capacity and started the construction of the new Facility D power and water plant, the largest of its kind in the Middle East.
All these developments will ensure sustained economic growth for the state of Qatar in the years beyond the World Cup.