Latest news with #NorthFieldEast
Zawya
2 days ago
- Business
- Zawya
Qatar reinforces LNG leadership, reshapes global energy landscape
DOHA: In a strategic move that reinforces its position as a leading global supplier of clean energy and supports global energy security amid rising demand and mounting challenges, the State of Qatar will begin exporting liquefied natural gas (LNG) from the first phase of the North Field East (NFE) expansion project by mid-2026. Speaking at the Qatar Economic Forum earlier this year, Minister of State for Energy Affairs and President and CEO of QatarEnergy, HE EngSaad bin Sherida Al Kaabi, confirmed that expansion work is progressing on schedule and that the first LNG exports from the North Field East will commence in the middle of next year. The NFE expansion -- the largest project of its kind in the world -- is part of Qatar's ambitious plan to double LNG production capacity. Output will increase from the current 77 million tonnes per year to 110 million tonnes by 2026, and to 126 million tonnes per year by 2027 following completion of the second phase in the North Field South. Upon completion of the North Field West project, which is still in the engineering design phase, Qatar aims to reach 142 million tonnes per year by 2030. Two experts, speaking exclusively to Qatar News Agency (QNA), highlighted Qatar's role in bolstering the economy, sustaining growth in the coming years, and reshaping global energy markets. Qatar's LNG projects are expected to contribute around 40% of total new global LNG supply by 2029. Chief Business Officer at QNB Group, Yousef Mahmoud Al Neama, described the NFE project as one of the largest capital expenditure ventures in the region and the world's largest single gas field. He noted that the development of eight new LNG production trains, to be implemented in three phases, will be a major driver of economic growth and a cornerstone of Qatar's energy strategy. Al Neama projected that these investments will increase Qatar's LNG production by 85% by 2030, reaching 142 million tonnes annually. The NFE expansion will also include parallel growth in refining, downstream operations, and petrochemical production, generating returns that will support economic diversification, structural reforms, and growth in the manufacturing and services sectors. He added that GDP growth remains strong and is set to accelerate with the start of NFE operations, forecasting growth of 2.4% in 2025, 5.6% in 2026, and 7.9% in 2027. This development will strengthen the Qatari banking sector, which will continue to benefit from robust growth, ample liquidity, adequate capitalization, high asset quality, and strong profitability, he said. In exclusive remarks to QNA, Vice Dean of Business School for Academic and Quality Assurance at Al-Bayt University in Jordan, Dr Omar Khlaif Gharaibeh, said that the State of Qatar is currently investing in one of the largest expansion projects in the history of the gas industry through the development of the North Field, which is the world's largest natural gas field. He noted that with this step, the production capacity of liquefied natural gas (LNG) will rise from 77 million to 126 million tonnes per year by 2027, an increase of more than 63%, pointing out that these are not just numbers, but the contours of a new global energy order emerging from Doha. Dr Gharaibeh pointed out that the energy compass in Europe has shifted in recent years, as the continent has begun seeking reliable partners. In this context, Qatar stands out as a strategic choice through long-term agreements signed with Germany, France, and the Netherlands, he said, explaining that these agreements not only secure gas supply, but also bring stability to markets that sorely lack it in times of geopolitical uncertainty. He added that economically, Qatar's expansion will help mitigate global price volatility, as gas prices, currently above $30 per million thermal units, could fall to around $10 15 by the end of the decade. Dr Gharaibeh emphasized that Qatar is redrawing the map of the global energy industry. As major powers seek to reposition themselves in a multipolar world, energy has emerged as a tool of balance and influence, and Qatar, he said, is a quiet power managing smart investments of more than $45 billion in infrastructure, ports, and LNG carriers. He also highlighted that in an era where energy security challenges intersect with environmental transition imperatives, Qatar presents a forward-looking model that focuses on sustainable production, global positioning, and long-term partnerships that are reshaping the future from the depths of the Gulf. The expansion project consists of three phases. Phase One (East Field) includes four mega production lines, each with a capacity of 8 million tonnes per year, totaling 32 million tonnes. Phase Two (South Field) includes two additional lines with a total capacity of 16 million tonnes annually. Phase Three (West Field) is currently under development and is expected to add another 16 million tonnes per year. The West phase of the expansion project is expected to enter the construction stage by 2027, completing Qatar's national plan to boost LNG exports. Total investments in the North Field expansion project have reached approximately $82.5 billion, with QatarEnergy bearing around $59 billion of the cost. Several major global energy companies are participating in the project, including ExxonMobil, TotalEnergies, Shell, Eni, ConocoPhillips, and China's Sinopec. Qatar has also signed long-term LNG supply agreements with a number of European and Asian countries, most notably Germany, France, the Netherlands, China, and India. These agreements significantly contribute to the stability of global energy supplies. Qatar is emerging as a reliable strategic partner, particularly due to its adoption of low-emission liquefaction technologies, making Qatari gas among the cleanest globally. These massive projects fall under the framework of Qatar National Vision 2030, which aims to diversify the national economy, sustainably invest in natural resources, and strengthen the country's role as a global energy hub. © Copyright Qatar Tribune. 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Qatar Tribune
2 days ago
- Business
- Qatar Tribune
Qatar reinforces LNG leadership, reshapes global energy landscape
DOHA: In a strategic move that reinforces its position as a leading global supplier of clean energy and supports global energy security amid rising demand and mounting challenges, the State of Qatar will begin exporting liquefied natural gas (LNG) from the first phase of the North Field East (NFE) expansion project by mid-2026. Speaking at the Qatar Economic Forum earlier this year, Minister of State for Energy Affairs and President and CEO of QatarEnergy, HE EngSaad bin Sherida Al Kaabi, confirmed that expansion work is progressing on schedule and that the first LNG exports from the North Field East will commence in the middle of next year. The NFE expansion -- the largest project of its kind in the world -- is part of Qatar's ambitious plan to double LNG production capacity. Output will increase from the current 77 million tonnes per year to 110 million tonnes by 2026, and to 126 million tonnes per year by 2027 following completion of the second phase in the North Field South. Upon completion of the North Field West project, which is still in the engineering design phase, Qatar aims to reach 142 million tonnes per year by 2030. Two experts, speaking exclusively to Qatar News Agency (QNA), highlighted Qatar's role in bolstering the economy, sustaining growth in the coming years, and reshaping global energy markets. Qatar's LNG projects are expected to contribute around 40% of total new global LNG supply by 2029. Chief Business Officer at QNB Group, Yousef Mahmoud Al Neama, described the NFE project as one of the largest capital expenditure ventures in the region and the world's largest single gas field. He noted that the development of eight new LNG production trains, to be implemented in three phases, will be a major driver of economic growth and a cornerstone of Qatar's energy strategy. Al Neama projected that these investments will increase Qatar's LNG production by 85% by 2030, reaching 142 million tonnes annually. The NFE expansion will also include parallel growth in refining, downstream operations, and petrochemical production, generating returns that will support economic diversification, structural reforms, and growth in the manufacturing and services sectors. He added that GDP growth remains strong and is set to accelerate with the start of NFE operations, forecasting growth of 2.4% in 2025, 5.6% in 2026, and 7.9% in 2027. This development will strengthen the Qatari banking sector, which will continue to benefit from robust growth, ample liquidity, adequate capitalization, high asset quality, and strong profitability, he said. In exclusive remarks to QNA, Vice Dean of Business School for Academic and Quality Assurance at Al-Bayt University in Jordan, Dr Omar Khlaif Gharaibeh, said that the State of Qatar is currently investing in one of the largest expansion projects in the history of the gas industry through the development of the North Field, which is the world's largest natural gas field. He noted that with this step, the production capacity of liquefied natural gas (LNG) will rise from 77 million to 126 million tonnes per year by 2027, an increase of more than 63%, pointing out that these are not just numbers, but the contours of a new global energy order emerging from Doha. Dr Gharaibeh pointed out that the energy compass in Europe has shifted in recent years, as the continent has begun seeking reliable partners. In this context, Qatar stands out as a strategic choice through long-term agreements signed with Germany, France, and the Netherlands, he said, explaining that these agreements not only secure gas supply, but also bring stability to markets that sorely lack it in times of geopolitical uncertainty. He added that economically, Qatar's expansion will help mitigate global price volatility, as gas prices, currently above $30 per million thermal units, could fall to around $10 15 by the end of the decade. Dr Gharaibeh emphasized that Qatar is redrawing the map of the global energy industry. As major powers seek to reposition themselves in a multipolar world, energy has emerged as a tool of balance and influence, and Qatar, he said, is a quiet power managing smart investments of more than $45 billion in infrastructure, ports, and LNG carriers. He also highlighted that in an era where energy security challenges intersect with environmental transition imperatives, Qatar presents a forward-looking model that focuses on sustainable production, global positioning, and long-term partnerships that are reshaping the future from the depths of the Gulf. The expansion project consists of three phases. Phase One (East Field) includes four mega production lines, each with a capacity of 8 million tonnes per year, totaling 32 million tonnes. Phase Two (South Field) includes two additional lines with a total capacity of 16 million tonnes annually. Phase Three (West Field) is currently under development and is expected to add another 16 million tonnes per year. The West phase of the expansion project is expected to enter the construction stage by 2027, completing Qatar's national plan to boost LNG exports. Total investments in the North Field expansion project have reached approximately $82.5 billion, with QatarEnergy bearing around $59 billion of the cost. Several major global energy companies are participating in the project, including ExxonMobil, TotalEnergies, Shell, Eni, ConocoPhillips, and China's Sinopec. Qatar has also signed long-term LNG supply agreements with a number of European and Asian countries, most notably Germany, France, the Netherlands, China, and India. These agreements significantly contribute to the stability of global energy supplies. Qatar is emerging as a reliable strategic partner, particularly due to its adoption of low-emission liquefaction technologies, making Qatari gas among the cleanest globally. These massive projects fall under the framework of Qatar National Vision 2030, which aims to diversify the national economy, sustainably invest in natural resources, and strengthen the country's role as a global energy hub.
Zawya
07-07-2025
- Business
- Zawya
Qatar set to clock fastest growth rate next year since 2015: Emirates NBD
Qatar's broad economy is in good shape, with 'positive' annual growth across all components of GDP in the first quarter, according to Emirates NBD. PICTURE: Shaji Kayamkulam Qatar's broad economy is in good shape, with 'positive' annual growth across all components of GDP in the first quarter (Q1), according to Emirates NBD. Indications are that growth has been maintained in the second quarter, with the Qatar Financial Centre PMI survey remaining above the neutral 50.0 level in April and May, the Dubai-based banking group has said in a report. While Qatar saw a record first quarter in terms of LNG exports, hitting 22mn tonnes amid high demand from northeast Asia, there was only a modest 1.5% y-o-y rise in the extraction of crude petroleum and natural gas industrial production index. The second quarter also appears to have got off to a fairly weak start, with the index's April print down 3.8% year-on-year (y-o-y). 'We have pencilled in a 2.0% expansion in the hydrocarbons side of the economy this year. In 2026, however, we project a much more robust 8.0% growth rate given the expected start of operations at the North Field East expansion project in the middle of next year. 'This will drive headline GDP growth up to 4.8% next year according to our projections, which if realised would be the fastest growth rate since 2015,' Emirates NBD said. The researcher's non-hydrocarbons growth forecast for Qatar this year is 3.0%, which would represent a modest slowdown from the 3.4% seen last year. Although the Q1 growth print does offer some upside risk to this projection there has been a slowdown in quarterly growth, which if maintained would see softer annual growth through the remainder of the year. Qatar's real GDP growth rate slowed to 3.7% y-o-y in Q1, down from 6.1% in Q4-2024. This still marked a strong performance, however, coming in well above the 2.5% averaged over the previous four years. On a quarterly basis, growth was 0.3%, from 0.4% in Q4. The slowdown in annual growth was driven primarily by a drop in 'mining and quarrying', mainly from the hydrocarbons sector, where growth fell to 1.0% y-o-y, from 6.3% the previous quarter. There was also a more modest slowdown in non-hydrocarbon GDP, which maintained a robust growth rate of 5.3%, compared with 6.2% previously. 'We forecast headline GDP growth of 2.6% this year, compared with 2.4% in 2024,' Emirates NBD said. Notable growth drivers in Q1 include wholesale and retail trade, which expanded 14.6% y-o-y and accounted for 8.4% of GDP, and manufacturing, which made up 7.4% of the total and grew 5.6% y-o-y, compared with a 0.2% decline in Q4-2024. Building and construction saw growth of 4.4% and the outlook for the rest of the year is positive given high levels of project spending in the pipeline. As of June, MEED Projects data gives $52.8bn worth of projects budgeted in Qatar. The bulk of this is in construction, closely followed by transport with investment going into the New Doha International Airport and the Doha Metro network. Transport and storage saw growth of 4.1%, maintaining the healthy pace set over the previous three years. While visitor arrivals in Q1 were down 7% to 1.5mn, the ongoing expansion of Qatar Airways and the development of Doha International as a regional and global hub likely provided support to the sector – in 2024 passenger volumes through Hamad International Airport expanded by 15% to reach 52.7mn passengers, Emirates NBD said. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (
Arabian Business
21-05-2025
- Business
- Arabian Business
Qatar to begin LNG exports from North Field East by mid-2026, says minister
Qatar plans to start exporting liquefied natural gas (LNG) from its first domestic expansion project by the middle of next year. The indication comes amidst the market closely watching the timeframe for the beginning of the operations. QatarEnergy will start supplies from North Field East by mid-2026, Energy Minister Saad Sherida Al-Kaabi told Bloomberg News at the Qatar Economic Forum in Doha on Tuesday. The startup of the project – which will boost Qatar's annual LNG output capacity to 110 million tons from 77 million tons now – is in focus amid elevated demand and delays at a number of projects globally. The market is closely watching the exact timing of new LNG projects, especially as Europe is still adjusting to life without Russian pipeline gas and consumption in some Asian countries is rising. Pinpointing the exact quarter or month of a startup like North Field East can impact how much supply will be available for the peak winter season, or for stockpiling and cooling needs in the summer. State-owned QatarEnergy's website states that the project will start by 2026. The company in 2022 said operations should start early next year, and in June last year, there were expectations for a 2026 start, without a specific date.
Zawya
18-03-2025
- Business
- Zawya
Qatar set to drive Mideast LNG exports; 27% region's share of global supply by 2050: GECF
Qatar - An LNG tanker passes boats along the coast of Singapore. LNG exports are projected to expand significantly over the next three decades, the HECF has said in its 'Global Gas Outlook 2050'. The Middle East region is expected to increase its LNG exports by approximately 106mn tonnes, accounting for 27% of the global LNG supply by 2050, GECF said and noted Qatar will mainly drive the region's gas exports during the forecast period. LNG exports are projected to expand significantly over the next three decades, the Gas Exporting Countries Forum has said in its 'Global Gas Outlook 2050'. The number of LNG-exporting countries is expected to rise from the current 22 to 27 by 2050, leading to a more diversified supply landscape, with North America emerging as the dominant LNG-exporting region by mid-century. The Middle East is set to follow closely behind North America, with its share of global LNG exports projected to reach 25% by 2050, compared to 24% in 2023. Qatar, already a leading LNG exporter, is expanding its liquefaction capacity through the North Field East and North Field South projects, while the UAE and Oman are ramping up production to meet growing global demand. These investments will further strengthen the Middle East's position as a key LNG supplier, particularly to Asia Pacific and Europe, reinforcing its strategic importance in the evolving global LNG market. Qatar aims to nearly double its LNG production capacity, increasing output by approximately 85% from the current 77Mtpy to 142Mtpy by 2030. This ambitious growth, led by the North Field Expansion project, will be implemented in three phases – through the North Field East (NFE), South (NFS), and West (NFW) expansion projects – and could contribute to a global oversupply later in the decade. 'This significant expansion will underpin Qatar's continued and sustainable economic growth, aligning with the Qatar National Vision 2030,' GECF said. GECF noted Qatar remains the dominant player in the Middle East's midstream gas sector. With the North Field East (NFE) and North Field South (NFS) expansion projects, Qatar is set to significantly increase its LNG export capacity by 65Mtpy, bringing the total to 142Mtpy by the early 2030s. The NFE project, valued at approximately $29bn is expected to commence operations by 2026, while the NFS project, estimated at over $14bn will follow shortly thereafter. In 2023, some 12 of the 20 LNG suppliers were GECF member countries, collectively supplying 193Mt of LNG and meeting 47% of global LNG demand. LNG trade is poised for significant growth among GECF member countries over the forecast period. This trend is driven by financial and technological advancements, making LNG more accessible to new consumers. As global natural gas demand increases, LNG is emerging as a strategic commodity, influencing the political and economic landscapes of gas-producing countries. Projections indicate that LNG exports from GECF member countries will reach approximately 445Mt by 2050, accounting for 56% of global LNG exports. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Pratap John
