Qatargas CEO predicts LNG demand to soar
Reticence to develop nuclear will increase LNG demand.
Qatargas Chief Executive Officer HE Sheikh Khalid Bin Khalifa Al Thani, expects demand for Liquefied Natural Gas (LNG) to increase in the wake of the Fukushima Daiichi nuclear disaster.
Qatar is currently exporting 6 million metric tonnes per annum (mmtpa) of natural gas to Japan under a long-term supply deal. Speaking to the Qatar News Agency, Al Thani said Qatar may export a further 3 million mmtpa, pending a decision from the Japanese government.
Sheikh Khalid said, "Qatargas has invested in long term capacity creation through the construction of large mega-trains and ships to transport our LNG efficiently; building of terminal capacity in different markets such as the UK (South Hook) and US (Golden Pass). This creates flexibility and capacity in these markets. By securing access to the liquid gas markets of the US and the UK, Qatar was able to rapidly expand its LNG production."
Italy is currently holding a referendum on whether to scrap its nuclear program. The German government has already suspended further nuclear evelopment. The suspension of nuclear development is likely to lead to burgeoning demand for gas for electricity generation.
Outlining expansion plans, Sheikh Khalid said: “Qatargas’ overall investment to date is around $36bn. Total investment between 2011 and 2017 will be around $4.5bn. This includes the Jetty Boil Off Gas (JBOG) project, Laffan Refinery’s Receiving and Loading Facility Project (RALF), Laffan Refinery 2, Diesel Hydro Treator (DHT) and Helium 2.”