Qatar, UAE step up LNG plans as global demand surges
The United Arab Emirates and Qatar energy ministers share a vision of vastly expanding liquefied natural gas exports to meet the growing global demand.
The United Arab Emirates will raise liquefied natural gas exports to meet the growing global demand for the supercooled fuel, its energy minister said Monday. His Qatari counterpart said over the weekend that Qatar is ready to support all nations with their LNG needs if it is commercially viable for both sides.
What happened: UAE Energy Minister Suhail al-Mazrouei said on the sidelines of Abu Dhabi Financial Week that the country would grow its LNG exports.
"We intend not only to satisfy our local demand, but we are also growing our export of LNG. And I agree with his excellency minister of Qatar that the demand is going to be much, much more than the projects that we are seeing," Mazrouei said, referring to their opinions that global demand for natural gas is outpacing investment in new capacity.
In 2017, Doha announced it was going to embark on a major LNG expansion, raising production from 77 million to 142 million metric tons per year.
