Qatar has announced an ambitious plan to significantly increase its production and supply of LNG, a move seen to strengthen its position in the global energy market while also preparing to respond to changing international energy needs.While the United States has recently surpassed Qatar as the world’s largest LNG exporter, Qatar has not reduced its investment in the industry but plans to further expand its natural gas production capacity.

Qatar Energy Minister Saad Sherida al-Kaabi announced at a news conference in Doha the North Field West project, an iconic development project that is expected to significantly increase the countrys natural gas production capacity. By 2030, Qatars natural gas production capacity is to increase to 1.2 billion tons annually, 85 percent higher than the current level, and 12 percent higher than the previously set target. The implementation of this plan is thanks to the geological and engineering research of North Field, which confirms the extension of the mines far more than previously anticipated, thus providing the possibility for new production projects.

The decision was made in the context of a near-historic low of gas prices. Minister Karby said that despite the current low price, he believes that the gas market in Asia will continue to grow and Europe will continue to need gas.

However, this strategic initiative of Qatar is not only to meet the growing global energy demand, but also to consolidate its position as the world’s leading natural gas supplier.In the context of the international energy supply chain facing a decline in supply in Russia and the Gulf region, Qatar’s plan to increase production is important to European countries as Europe is seeking to diversify its energy supplies to reduce its dependence on Russian natural gas.