With the global LNG market going through radical changes, Qatar is in no hurry to boost output. But it will have to adapt its approach to protect its revenue.
Qatar’s LNG exports reached 76.37mn tons in 2014, down 2% from 2013’s record 78.02 mn tons, according to the latest statistics released by the Paris-based International Group of LNG Importers (GIIGNL). The drop was attributed to maintenance work at the Ras Laffan facilities. However marginal, this is the first export fall since 2006, when the emirate became the world’s leading producer of the fuel with 77mn t/y capacity. Qatar started exporting LNG in 1996 and saw its production rise tenfold since then. (CONTINUED - 1820 WORDS)