Qatar, a global leader in LNG exports, has an 85 per cent expansion plan for its LNG output from its North Field, from 77 mtpa currently to 142 mtpa by 2030, instead of the previous goal of 126 mtpa, Reuters reported on Tuesday.
Market experts said that Qatar’s LNG expansion will affect global projects that need money and customers to start, as Qatar can produce LNG at the world’s lowest cost. By 2030, it could dominate a quarter of the market and push out competitors, especially in the US, where Biden stopped new exports.
Qatar and the US became more competitive after Europe decided to stop using Russian gas because of its Ukraine invasion. US gas suppliers took over the market and became the largest LNG exporter in 2023, beating Qatar, which also sold more gas to Europe.
The US will double its LNG capacity in the next four years, but it can’t export more gas because of a decision to halt new terminals for environmental reviews, which worries gas importers who think it will harm global energy security.
