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Qatar Petroleum to investment up to $20b in U.S. LNG projects
Energy - DECEMBER 17, 2018

Qatar Petroleum to investment up to $20b in U.S. LNG projects

by Andrea Zander

Qatar Petroleum has plans to invest approximately $20 billion in LNG projects in the United States over the next few years, reported Reuters, after the Gulf Arab state unexpectedly quit OPEC this month. In addition, the investor will invest in oil production in the United States.

Qatar plans to boost its local production capacity from the current 77 million tons of LNG annually to 110 million tons by the early 2020s.

Qatar, with its partners Exxon and ConocoPhillips, currently has a majority stake in the Golden Pass terminal in Texas. Qatar Petroleum also has partnered with Italian oil major Eni in three oil fields in Mexico, taking a 35 percent stake in deposits that will begin production in mid-2019 and ramp up to about 90,000 barrels per day by 2021.

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