Qatar to Invest $20Bln in US LNG Projects Over Next 5 Years – Energy Minister

Qatar to Invest $20Bln in US LNG Projects Over Next 5 Years – Energy Minister

DOHA (Sputnik) – Doha intends to invest $20 billion in US energy projects over the next five years, Qatari Energy Minister Saad Sherida Al-Kaabi said on Sunday.

“We think that the US has a huge potential, and production is going forward for a very long time, and therefore we are looking to invest there. We reckon that some $20 billion will be invested in the next five years in the US in different projects we are working on, in different areas — in conventional and non-conventional,” Al-Kaabi, who is also the president and CEO of Qatar Petroleum (QP), said at the Doha Forum.

READ MORE: Anti-Trust Probe Launched Into LNG Supplies Deal With Qatar Petroleum — EC

According to him, Qatar’s investments in LNG production projects in the US will allow Doha to add 60 million tons per day to its production capabilities.

Qatar had previously announced the launch of four new LNG production lines by 2024, which will allow it to increase production from 77 to 110 million tonnes per year.

By the end of 2019, Washington intended to triple its LNG production from the current 3.6 billion cubic feet per day to 9.6 billion (about 99 billion cubic meters annually). In July 2018 US President Donald Trump called upon the EU leadership to bolster the number of LNG terminals in Europe to receive US super-chilled fuel.

Qatar to Allocate $500Mln to UN Agencies

Moreover, Qatar will allocate $500 million to UN organizations to support their activities over the next ten years, a Sputnik correspondent reported from the ceremony of signing agreements on the sidelines of the Doha Forum.

According to the text of the agreement, Qatar will allocate this sum to eight UN organizations, including the UN International Children’s Emergency Fund (UNICEF) and the UN Refugee Agency (UNHCR).

The deal was signed in the presence of UN Secretary-General Antonio Guterres and Qatari Foreign Minister Mohammed bin Abdulrahman bin Jassim Al Thani.

Source: sputniknews.com

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