Qatar-based international intergovernmental organization, Gas Exporting Countries Forum (GECF) has revealed that the country will maintain its position as the largest exporter of liquefied natural gas (LNG) in the world.
GECF has said in the Global Gas Outlook 2050’s fifth edition that Qatar along with Iran will contribute significantly to the growth of natural gas production in the Middle East.
The report expects the region’s natural gas output to continue to grow to more than 1150 billion cubic meters (bcm) by 2050, and its share of global gas production will rise to 19.4 percent.
“Currently, Qatar is the largest LNG exporter, and it is working to increase its liquefaction capacity to 126 mtpa (million tonnes per annum) by 2027. Post-2027, a further 55 mtpa of speculative LNG projects remain to be completed. It is forecast that Qatar will maintain its position as the top LNG exporter in the world by 2050,” the report noted.
The Middle East is the third-largest producer of gas worldwide, contributing to nearly 17 percent of global gas production, after North America and Eurasia. In 2019, output stood at more than 680 bcm, said the report.
Along with the increasing demand for natural gas, the ability to export natural gas to neighboring countries, and the global potential of LNG exports are the key factors of the gas production in the region.
According to the report, “Saudi Arabia is pushing to enhance output levels at the Ghawar oil field and has also announced its intention to invest in unconventional production, which is anticipated to impact positively on overall production. However, the two main contributors to incremental natural gas production in the region are Iran and Qatar, which are forecast to account for around 50 percent and 30 percent of regional expansion, respectively.”
Further, the Middle East will account for over 24 percent of the change in world output of natural gas by 2050, adding more than 460 bcm to its current annual production, GECF added.