Natural gas demand is set to rebound strongly in 2021 and will keep rising further if governments do not implement strong policies to move the world onto a path towards net-zero emissions by mid-century, according to a new report by the International Energy Agency

The Arab Petroleum Investments Corporation (APICORP), a multilateral development financial institution, has estimated that gas investments in MENA for the period 2021-2025 are expected to total US$75bn – US$9.5bn less than the previous outlook

BP has announced gas production from Raven field, the third stage of its major West Nile Delta (WND) development off the Mediterranean coast in Egypt

Qatar Petroleum will become the sole owner of Qatargas Liquefied Natural Gas Company Limited (QG1) as of 1 January 2022, upon the expiry of the QG1 joint venture

QG1, a joint venture between Qatar Petroleum and affiliates of Total ExxonMobil, Marubeni and Mitsui, was established in 1984 and pioneered the first LNG project in Qatar, paving the way for the development of the country’s successful LNG industry.

HE Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and president and CEO of Qatar Petroleum said, “The takeover by Qatar Petroleum will conclude more than 25 years of successful operations of QG1, from which the first ever Qatar LNG cargo was exported. This is a momentous event that highlights Qatar Petroleum’s efforts to further enhance the utilisation of our natural resources for the benefit of our country and its current and future generations, as well as to continue serving the world’s need for cleaner energy.”

“I would like to thank our valued partners, Total, Exxonmobil, Marubeni and Mitsui for their efforts in the development and operation of QG1 over the past three decades,” he continued.

With a production capacity of around 10 million tonnes per annum of LNG, QG1 facilities will continue to be operated by Qatargas on behalf of Qatar Petroleum. 

Eni has closed agreement with partners for the restart of Damietta liquefied natural gas plant in Egypt and amicable settlement of Union Fenosa Gas disputes