Qatar Petroleum has decided to increase gas production by 30 percent from its current production rate is to 77 million tonnes per year.
The CEO of Qatar Petroleum announced that the company has decided to raise its Liquefied Natural Gas (LNG) production from 77 million tons per year to 100 million tons, as he ensures that the peninsular will not be fazed by the blockade.
This would be done by increasing the production of the North Field by 20 percent, and it would include expanding trade with major European oil company Total, along with selling gas to China, Iran and other parts of East Asia.
Al-Kaabi added that Doha would not cut off gas from any country, reassuring that Qatar would not be affected by the blockade, even if it was to persist on a long term basis.
"This new project will strengthen Qatar's leading position," Kaabi told reporters.
"We will remain the leader of LNG for a very long time," he added.
Qatar is currently the world’s largest producer of LNG.
Qatar's Energy and Industry Minister Mohammed Al-Sada said earlier that his country was committed to all bilateral agreements signed with its partners in all fields, including energy and industry.
In March, Qatar Petroleum ended its self-imposed moratorium on the North Field as it announced plans for a new gas project, due to take place “in a matter of months”.
‘Business as usual’
Days after the Saudi-led blockade on Qatar was imposed, Qatar Petroleum released a statement saying it will be conducting “business as usual” despite the spiralling diplomatic crisis in the Gulf.
This comes after Qatar’s Defence Minister Khaled Al-Attiyah said on Monday that the country would be prepared to defend itself if necessary, amid ongoing political escalations in the Gulf.
"I hope we do not reach the stage of military intervention, but we are always on the alert ... We are ready to defend our country," he said, warning that Qatar has historically proved that it is not an easy country to "swallow".
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