Qatar to Account for 30% of LNG Production

RasGas Managing Director said that Qatar's vast North Field is expected to produce 25b standard cubic feet per day (scfd) of natural gas by 2012 compared to the current 7bn scfd of natural gas, The Peninsula reported. While addressing the Qatar Financial Centre QFC, the director stated that Qatar will soon account for 30 per cent of the total liquefied natural gas (LNG) production in the world. He said that RasGas accounts for 21 million tons per year(mtpa) out of the 30 mtpa produced by qata, and by 2009, it will be producing 37 mtpa. As for insurance, he said that the total value of RasGas' insured assets is $19bn Of the $130bn expected to be splashed out by the state by 2012, $74bn or 56 per cent will be spent on energy and petrochemical projects, he added. Source: Middle East North Africa Financial Network