Qatar Will Invest $ 20 Billion in the United States

Qatar Petroleum is looking to invest nearly $20bn in the United States over the next five years "in different projects in different areas", HE the Minister of State for Energy Affairs, Saad Sherida al-Kaabi has said, quoted by Gulf Times. 

"In the US, of course with the LNG exports that we will have, we also have upstream position in gas, oil, conventional and non-conventional. We think the US has a huge potential in production, going forward…and for a very long time. So we are looking at investing there," al-Kaabi said at a plenary session on 'New age energy policy: a balancing act' at the Doha Forum on Sunday.

Al-Kaabi said: "In the US, we have very large investments. We have invested in the Golden Pass LNG Terminal. We are in the final stages, assessing with our partners to take a final investment decision on the project. And that should be coming in the next few weeks.

"If that goes ahead…that will be an increase of about 60mn tonnes of LNG exports that we will be part of, in addition to the 110mn LNG exports that we are reaching in five years or so."

Qatar Petroleum is majority owner of the Golden Pass LNG terminal in Texas, with Exxon and ConocoPhillips holding smaller stakes.

Al-Kaabi highlighted Qatar's strategy, under which he said, "we plan to grow our production from 4.8mn barrels of oil equivalent per day to 6.5mn barrels of oil equivalent per day in the next few years.

"In my view, it is a conservative strategy; we are working very hard to achieve that. We are already almost at that target, if you will."

In September, Qatar Petroleum announced further increase in the capacity of Qatar's LNG expansion project, by adding a fourth liquefaction train, to raise the country's liquefied...