Qatar to sign more long-term LNG contracts this year
Business
The Gulf State is one of the largest liquefied natural gas exporters
- Qatar Airways will soon announce an investment in a southern Africa airline
- In 2019, it took a 60pc stake in a new $1.3bn international airport being built in Rwanda
DOHA (Reuters) – Qatar has not had difficulty securing long-term liquefied natural gas (LNG) contracts and will sign more this year, QatarEnergy CEO and state minister for energy Saad al-Kaabi said at an economic forum on Wednesday.
"We've actually secured 25 million [metric] tons of long-term LNG sales (in the last 12 months) and I can tell you also on this podium that we're signing more this year," he said.
State-owned QatarEnergy has been signing supply deals with European and Asian partners for gas that is expected to come on-stream from its massive North Field expansion, part of the world's largest natural gas field which Qatar shares with Iran, which calls it South Pars.
Qatar, one of the world's largest LNG exporters, announced an additional expansion of its LNG production in February that will add 16 million metric tons per year to its original plans, bringing total capacity from 77 million metric tons per year to 142 million.
Kaabi said he sees a big future demand for LNG and Qatar would continue to assess its gas reservoirs for possible future growth. "We are very bullish on demand going forward," Kaabi said.
Kaabi also reiterated that should technical evaluations show Qatar could further expand production it would. "If there is more we probably will do more," he said.
QATAR AIRWAYS IN SOUTHERN AFRICA
Qatar Airways will soon announce an investment in an airline in southern Africa, its CEO said on Wednesday, part of the Gulf carrier's drive to expand its network in Africa.
"We are at the final stage of an equity investment in an airline in the southern part of Africa," Badr Mohammed Al Meer said on a panel at the Qatar Economic Forum in Doha, saying the deal could be announced in two to three weeks.
Meer, who became CEO in November, said the southern part of Africa was a gap in Qatar Airways' network coverage on the continent.
He added that Qatar Airways wants to expand the fleets of its partner airlines in Africa to improve connectivity.
Qatar Airways in 2019 took a 60 per cent stake in a new $1.3 billion international airport being built in Rwanda and has code share agreements with several airlines in Africa including Rwandair.
Rwandair CEO Yvonne Manzi Makolo, speaking in Doha, said the airport could be incorporated around 2027-28.
