Dec 06 2010 |
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Economic performance: In focus
Qatargas Train 6 goes on stream
Qatargas said on November 13th that its sixth train (Qatargas 3) had come on line on November 1st, taking the country closer to its target of achieving total liquefied natural gas (LNG) production capacity of 77m tonnes/year (t/y). The train, which is designed to produce 7.8m t/y of LNG, is 68.5% owned by Qatar Petroleum ( QP ), 30% by ConocoPhillips of the US and 1.5% by Mitsui & Co of Japan.
The announcement means that Qatar is on the verge of completing its ambitious LNG expansion programme, which envisioned the building of 14 "super-train" facilities, shared equally between Qatargas and RasGas. The last remaining facility, Qatargas 7 (70% owned by QP , 30% by Royal Dutch Shell, the Anglo-Dutch energy giant), which is also designed to produce 7.8m t/y, is expected to go on stream in the first quarter of 2011. Qatar is preparing to hold a ''grand celebration'' marking the achievement of its target on December 13th, with government leaders, top energy industry executives and experts invited to attend the event.
However, the celebration comes amid less encouraging news for Qatar, as in late November, the country's key partner in its LNG industry, ExxonMobil (US), announced that it has suspended plans to build a floating LNG import terminal off the New Jersey coast owing to changes in its outlook for natural gas supply and demand in the area. The project, known as BlueOcean Energy, which was launched in 2007, had a planned capacity of about 1.2bn cu ft/day of natural gas to be delivered to markets in the north-east of the US. Qatar had long hoped to capture a slice of the US gas market, and had built at least four super-trains (of 7.8m t/y capacity each) eyeing what it saw as being a lucrative US market. ExxonMobil's decision to put off the planned New Jersey terminal follows the rapid development of the shale gas reserves in the US, which has severely affected demand for Qatari LNG. Qatar's worries are further compounded by the underutilisation of the newly-opened Golden Pass LNG terminal in Louisiana, which it had built with ExxonMobil and ConocoPhillips.
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