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Tribune News Network
Doha
Qatar is ready to further boost investment in liquefied natural gas (LNG) production, beyond its current plan to increase annual capacity to 110 million tonnes by 2024, according to Minister of State for Energy Affairs HE Saad Sherida al Kaabi.
In an interview with Japan-based Nikkei, Kaabi said that Asian demand for LNG will continue to grow rapidly and that he remains skeptical the world will shift significantly from fossil fuels to renewables in the near future.
“Asia is the biggest market for LNG, or fuels in general, because that is where [economies are growing], and that is where the need is,” Kaabi said. “For us, the Asian market is a fundamental market and we have great relationships politically with all the Asian countries.”
The minister stressed the importance that Qatar places on relations with Japan, which has paved the way for LNG imports. “Japan in particular has a very special place in our heart, and we are looking to extend our contracts with Japanese companies,” Kaabi added.
He noted that in the aftermath of the Fukushima nuclear disaster, Qatar cancelled LNG shipments to other destinations, diverting them instead to Japan and selling them at contract prices, despite gas prices being “very high” at the time. “We wanted to show the people of Japan our respect,” he said.
Turning to other Asian markets, Kaabi said, “Indonesia has huge potential and is an untapped market. The Philippines is a huge market that has not opened up fully to gas. Pakistan has a huge requirement and bought from us. Bangladesh has a population of 160 million and ... India may need as much gas as China.”
Kaabi said plans are afoot to increase annual LNG production capacity by 40 percent from the current 77 million tonnes. But, given expectations for greater Asian demand, Qatar is preparing to raise the capacity even more.
Doha
Qatar is ready to further boost investment in liquefied natural gas (LNG) production, beyond its current plan to increase annual capacity to 110 million tonnes by 2024, according to Minister of State for Energy Affairs HE Saad Sherida al Kaabi.
In an interview with Japan-based Nikkei, Kaabi said that Asian demand for LNG will continue to grow rapidly and that he remains skeptical the world will shift significantly from fossil fuels to renewables in the near future.
“Asia is the biggest market for LNG, or fuels in general, because that is where [economies are growing], and that is where the need is,” Kaabi said. “For us, the Asian market is a fundamental market and we have great relationships politically with all the Asian countries.”
The minister stressed the importance that Qatar places on relations with Japan, which has paved the way for LNG imports. “Japan in particular has a very special place in our heart, and we are looking to extend our contracts with Japanese companies,” Kaabi added.
He noted that in the aftermath of the Fukushima nuclear disaster, Qatar cancelled LNG shipments to other destinations, diverting them instead to Japan and selling them at contract prices, despite gas prices being “very high” at the time. “We wanted to show the people of Japan our respect,” he said.
Turning to other Asian markets, Kaabi said, “Indonesia has huge potential and is an untapped market. The Philippines is a huge market that has not opened up fully to gas. Pakistan has a huge requirement and bought from us. Bangladesh has a population of 160 million and ... India may need as much gas as China.”
Kaabi said plans are afoot to increase annual LNG production capacity by 40 percent from the current 77 million tonnes. But, given expectations for greater Asian demand, Qatar is preparing to raise the capacity even more.
