Planned production expansion to enhance Qatar’s total gas production by 91%: GECF
Gulf Times
The planned expansion of production from the North Field and other fields will increase Qatar’s total gas production by an overall of 91%, from about 175 bcm in 2021 to 330 bcm in 2050, according to the Gas Exporting Countries Forum. In its latest Global Gas Outlook report, GECF said Qatar, Iran and Saudi Arabia are the “bright spots” for Middle Eastern gas output over the next three decades. “Qatar aims to maintain its status as the top LNG producer and exporter in the world,” GECF said. Between 2020 and 2050, the natural gas supply is set to climb by an annual average growth rate of 2.4% in Iran, 2.2% in Qatar and 1.2% in Saudi Arabia. National oil companies in the Middle East are focusing on developing their gas fields. As most of the countries in the Middle East are also crude oil producers, the majority of natural gas production in the region is associated gas, GECF noted. With almost 17% of global gas production, the Middle East is the third-largest gas-producing region worldwide after North America and Eurasia. The region is a net exporter of gas, and supply has been growing rapidly by an annual average growth rate of 6.3%, from about 190 bcm in 2000 to around 650 bcm in 2020. Backed with a huge level of gas resources and the potential for gas exports along with ongoing increasing demand, the outlook for this region has always been promising, and the latest results from the GECF Global Gas Model (GGM) were no exception. The report forecasts that natural gas production in the Middle East will grow by an average growth rate of 2% per year between 2020 and 2050, to 795 bcm in 2030, 955 bcm in 2040 and 1180 bcm in 2050. With almost 17% of global gas production, the Middle East is the third-largest gas producing region worldwide after North America and Eurasia. Rapid growth in Iran, Qatar and Saudi Arabia will lead to an average growth rate in the region of 2% per year between 2020 and 2050, with supply reaching 795 bcm in 2030, 955 bcm in 2040 and 1180 bcm in 2050. Natural gas is expected to become the dominant fossil fuel by 2050, given its position as the cleanest fossil fuel, when combined with CCUS and methane abatement technologies. Increased demand for hydrogen in the energy sector is also expected to enhance the role of natural gas, GECF noted.
