Daily Times

DOHA: Energy-rich Qatar on Tuesday said that it plans to enhance production of natural gas by 30 percent over the course of next few years, as it continues to face diplomatic wrath of its neighbours.

Speaking to a press conference, the head of Qatar Petroleum, Saad Sherida Al-Kaabi said that the country aims to increase natural gas production to 100 million tonnes a year by 2024.

“This new project will strengthen Qatar’s leading position and we will remain the leader of LNG for a very long time.” Kaabi told reporters.

Qatar is the world’s largest producer of Liquefied Natural Gas (LNG), with current production rates as high as 77 million tonnes per year. The expansion will increase output levels up to the equivalent of six million barrels of oil per day, Kaabi said.

The announcement comes as the Gulf faces its worst diplomatic crisis in years after Saudi Arabia and its allies imposed a sweeping embargo on Qatar last month. Its timing is likely to be seen as achieving political gains instead of economic.

Qatar responded to a 13-point list of demands its neighbours made for lifting their sanctions on Monday.

Kaabi further said that Qatar wants to carry out joint ventures with International companies to enhance overall production. He confirmed that Qatar will continue to work with or without international companies despite sanctions from Saudi Arabia and its allies.

“If there are no companies willing to work with us, we will do the 100 million tonnes,” he said.