Qatar expects to be top LNG producer in two years

DAVOS - The Gulf state of Qatar said yesterday it expects to be the world's biggest producer of liquefied natural gas (LNG) within the next two years.


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Published: Sat 24 Jan 2004, 11:57 AM

Last updated: Thu 2 Apr 2015, 12:12 AM

First Deputy Prime Minister Shaikh Hamad bin Jassim bin Jabr Al Thani told CNBC television Qatar was now producing 15 million tonnes a year of the fuel but aimed eventually to raise this to 60 million tonnes.

Indonesia is the top LNG producer at the moment followed by Algeria.

"Within the next two years we will be number one (producer) in the world. Within the next five years we will be far ahead - three, four times - from the second in the world as a producer." Opec producer Qatar ranks as the world's third biggest holder of natural gas reserves after Russia and Iran. State oil company Qatar Petroleum and its international partners have said they plan to spend 83 billion riyals ($22.8 billion) over the next four years to develop the Gulf producer's energy industry.

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