LNG Output Jump to Boost Qatar Growth

Qatar is the world’s largest exporter and tran-shipper of liquefied natural gas. The country’s LNG production is in excess of 54 million tons per year from 11 trains. In 2011, the production will vault to 77 million tons from 14 trains.

Driven by a huge increase in hydrocarbon production, particularly liquefied natural gas, Qatar’s real GDP is expected to grow at an average 7.6% annually between 2010 and 2014, research firm Business Monitor International has said.

BMI expects the country’s real GDP to have gone up 5.6% in 2009 compared with a 15% growth in 2008.

Qatar’s gas production would scale up to 141 Bcm/y by 2014, up from an estimated 88 Bcm/y in 2009, BMI said in its latest report.

Local consumption is expected to rise to 24 Bcm in 2014 from an estimated 21 Bcm in 2009.

Qatar is the world’s largest exporter and tran-shipper of liquefied natural gas. The country’s LNG production is in excess of 54 million tons per year (tpy) from 11 trains. In 2010, the production will vault to 77 million tpy from 14 trains.

BMI estimates 1.4 million bpd of oil and gas production in 2009, rising to 2.07million bpd by 2014.

“Between 2009 and 2019 we are forecasting an increase in Qatari oil and gas production of 60.2% with volumes rising steadily to 2.24 million bpd by the end of the 10-year forecast period,” BMI said.

Qatar’s oil consumption between 2009 and 2019 is set to increase by 75.7% with growth slowing to an assumed 6% a year towards the end of the period and the country using 176,000 bpd by 2019.

The BMI report said Qatar will account for 1.04% of Middle East’s regional oil demand by 2014, while providing 7.22% of supply. The regional oil use of 8.24 million bpd in 2001 rose to an estimated 11.38 million bpd in 2009. It should average 11.66 million bpd in 2010 and then rise to around 12.68 million bpd by 2014, the report said.

Regional oil production was 22.87 million bpd in 2001 and in 2009 averaged an estimated 24.79 million bpd. It is set to rise to 28.65 million bpd by 2014. Oil exports are growing steadily, because demand growth is lagging the pace of supply expansion. - Gulf Times