As the world’s largest LNG exporter, Qatar has been able to minimize the disruption caused by the ongoing Saudi-led blockade. A 40% capacity increase to 110mn t/y by 2024 is progressing, with the first wells to be drilled in early 2020. QP is pressing ahead with contract awards ahead of bringing IOCs onboard.
| Gas Output | 176 | bcm |
| Gas Exports | 125 | bcm |
| LNG Exports | 76.8 | mn tons |
| O&G Export Rev. | 72.9 | $bn |
| O&G % Export Rev. | 87 | % |
*End-Year
7 Jun, 2019
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The second anniversary of the Qatar embargo has been marked with recriminations on both sides. The rift shows no sign of healing. Qatar has little economic imperative to make concessions, without which its opponents are loath to ease the restrictions.
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