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    Gas makes Qatar a "strategic" partner

    May 17, 2022 - CE Noticias Financieras


      The state visit to Spain by the Emir of Qatar, Sheikh Tamim Bin Hamad Al Thani, the only visit to Spain by a head of state of another country scheduled for 2022, will see the two countries seal a strategic alliance with energy and investment in this sector as one of its main pillars. The emirate maintains a strategic partnership of this caliber with seven other countries in the world: the United States, France, Italy, the United Kingdom, Japan, Turkey and China.However, the truth is that in energy matters the relationship has been strategic for years. But contrary to what might seem with the increase in net imports of liquefied natural gas (LNG), which have grown in March by 75.2% compared to the same month of 2021, while decreasing those made through pipeline (-48.3%), the contribution of Qatari gas has not been in line with the increased weight of LNG.Natural gas imports reached 37,582 gigawatt hours GWh last March (a growth of 15.6% compared to March 2021), according to Cores. 71% is imported as LNG and the remaining 29% via pipeline with a year-on-year increase in supplies from North America (+391.7%) and Central and South America (+17.6%), while those from Africa (-26.8%) and Europe and Eurasia (-9.1%) are down. But most significantly, no natural gas was imported from the Middle East in March.This turnaround has placed the United States as the main supplier of natural gas to Spain (16,264 GWh; 43.3% of the total) with the highest imports since data has been available (2004), followed by Algeria (11,138 GWh; 29.6%), with the highest of the yearWith respect to the first quarter of 2022, despite natural gas imports being the highest for this period since 2008, with 113.306 GWh, arrivals from the Middle East (Qatar and Oman) barely accounted for 3%, with a drop in deliveries from Qatar of 67.4% between January and March.In 2021, Algeria remained the main supplier of natural gas to Spain, with 42.8% of total imports (37.2% by pipeline and 5.6% in LNG); followed by the United States, with 14.4%, and Nigeria, with 11.5%. Russia ranked fourth, with 8.9% of total imports in 2021, surpassing Qatar, with 6.3% of the total, according to the same data from last year's closing of Cores.The Government ensures that Qatar is the second supplier of natural gas to Spain along with Nigeria, according to consolidated data, and behind Algeria. In 2019, it accounted for 11.4% of total Spanish gas imports, although it declined in the next two three positions.Qatar produces about 850,000 barrels of crude oil per day and 18 billion cubic feet of gas per day, produced from the North Field, which contains gas reserves of 380 trillion cubic feet and associated gas, according to the emirate.Qatar aims to increase its liquefied natural gas production capacity to 60 million tons per year, knowing that current production is 18 million tons per day.Qatar Petroleum established in 1974, is owned by the government and responsible for the entire oil and gas industry in Qatar. The most important fields, both onshore and offshore, are: Dukhan; Al Idd Al Sharqi; Maydan Mahzam, Bul Hanain, Al Bunduk, Al Shaheen, Al Rayan, Al Khalij, Al Karkara and Tabakat.Discovered in 1971, it lies offshore northeast of the Qatar peninsula at a depth of 15 to 70 meters underwater. It covers 6,000 square kilometers, almost half of the emirate's surface area. This field represents the largest concentration of non-associated natural gas in the world with total proven reserves of more than 900 trillion cubic feet, accounting for 20% of the world's total, and making Qatar the third country in the world with the largest natural gas reserves after Russia and Iran.The emirate aims to become the world's largest exporter of liquefied natural gas (LNG), for which it has established two LNG joint venture projects. Qatar Gas - a joint venture with between QP, French Total FinaElf, U.S.-based Exxon Mobil and Japan's Mitui and Marubeni - began production in 1997 and currently has five main products: LNG, unprocessed field condensate, plant condensate, helium and sulfur. It is scheduled to begin producing LNG and processed oil condensates.Ras Gas, the other LNG company, began production in 1999 and is a joint venture between QP, U.S.-based Exxon Mobil, Korea's Kogas and Japanese companies LNG Japan and Itochu. The company produces LNG.


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