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Escalating demand for natural gas around the globe continues to bring the benefits of liquefied natural gas (LNG) to center stage. Unprecedented growth within this segment of the energy marketplace coupled with ongoing technological advancements in gas drilling, processing, shipping and distribution are unleashing substantial investment across the LNG industry. And now, with construction well underway on the Qatargas 3 and Qatargas 4 projects—two of the world’s largest LNG developments—Qatar Petroleum and partners ConocoPhillips, Mitsui, and Royal Dutch Shell have taken an impressive step towards meeting the rapidly growing demand for LNG while reinforcing their positions of market leadership.
When combined with Qatargas 1, which has been in operation since the mid-1990s, and the soon-to-be-completed Qatargas 2, Qatargas 3 and Qatargas 4 will bring total annual production of Qatargas Operating Company Ltd. up to 42 million tons. Commenting on the aggressive pace of expansion, Mr. Faisal M. Al Suwaidi, CEO and Vice Chairman of Qatargas Operating Company Ltd., notes that Qatargas has been supplying markets in Asia since 1996, and will reach Europe in 2008 and North America by 2009. “By the end of the decade we anticipate to be shipping 42 million metric tons per year, with our marketing efforts reaching every corner of the world,” states Al Suwaidi.
