Energy Majors Queuing Up For Stakes In Qatar's LNG Expansion
Zacks Investment Research | Jan 25, 2019 07:11AM ET
Qatar plans to float a tender for firms looking for a stake in its liquefied natural gas (LNG) expansion development, per Reuters. Companies with stakes in LNG terminals of the country and several other energy majors are expressing their interest in the expansion projects, the source added.
Qatar Petroleum, a state-run energy firm of the country, will be looking for firms that are willing to allocate capital for building the fourth LNG train. With this, the production capacity of the country’s LNG will likely be raised from the recent mark of 78 million tonnes per annum (MTPA) to 110 MTPA.
The competition for stakes in the expansion development is expected to intensify since Qatar is among the largest producers and exporters of LNG in the world. Notably, the country is considering expanding its LNG capacities by more than 33% over the next five years.
Reuters added that major energy players like Exxon Mobil Corporation (NYSE:XOM) , Royal Dutch Shell (LON:RDSa) plc Zacks Investment Research
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