Mubasher: Qatar Petroleum (QP) has announced plans to invest $20 billion in oil and gas fields in the US during the coming five years as a part of its expansion plans, CEO Saad Sherida Al-Kaabi said.
The investments will include lining up gas supplies for the Golden Pass liquefied natural gas (LNG) export project in Texas, which was developed with Exxon Mobil Corp, Al-Kaabi said in an interview with Bloomberg.
The official further noted Qatar will carry out a project in the oil or gas sectors but did not uncover any more details.
QP also plans to inject $5 billion in chemical projects, in addition to plans to raise oil equivalent to 6.5 million barrels per day (bpd), from 4.8 million bpd currently, he added.
Qatar currently produced 77 million tonnes of LNG annually and plans to increase its output by an additional 30 million tonnes by 2024.
