ExxonMobil, a long-standing partner in Qatar’s gas sector, has reaffirmed its commitment to the nation’s gas infrastructure with investments totaling nearly $30 billion since the 1990s, as revealed by Senior Vice President Peter Clarke.
Clarke shed light on ExxonMobil’s substantial investments that have played a pivotal role in the development of Qatar’s gas industry. These investments have facilitated the construction of 12 out of 14 gas facilities in the country.
Additionally, ExxonMobil has invested significantly in a fleet of 27 LNG (liquefied natural gas) vessels, specifically designed for the transportation of Qatari gas. These vessels have been instrumental in facilitating Qatar’s position as a global leader in LNG exports.
Clarke also highlighted ExxonMobil’s strategic partnerships with Qatar in the United States, notably the Golden Pass Terminal. This terminal, located on the US Gulf Coast, is a 70-30 joint venture between QatarEnergy and ExxonMobil.
Exciting developments are on the horizon for the Golden Pass Terminal, with Clarke confirming that the first section, known as a ‘train,’ is scheduled for completion in 2024, followed by the construction of additional trains.
This year, QatarEnergy expanded its portfolio by acquiring stakes in two Canadian offshore exploration blocks from ExxonMobil. This strategic move aligns with QatarEnergy’s ambitious expansion plan, positioning it as the world’s largest LNG producer. QatarEnergy’s growth extends globally, encompassing acquisitions in oil and gas basins in Guyana, Namibia, South Africa, and Cyprus. Collaborations with major energy giants like TotalEnergies and Shell underscore the company’s commitment to international partnerships.
Notably, QatarEnergy recently formed a consortium with TotalEnergies and Italy’s Eni to explore maritime blocks off the coast of Lebanon, further solidifying its global presence.
Qatar, already the world’s leading LNG supplier, has set an ambitious target to increase its annual production to 126 million tonnes by 2027, up from its current 77 million tonnes, through the North Field expansion project.
ExxonMobil’s enduring partnership with Qatar plays a pivotal role in supporting Qatar’s vision for a prosperous and sustainable future in the global energy landscape.