Senior Vice President Peter Clarke outlined ExxonMobil’s decades-long, multi-billion-dollar commitment to Qatar’s gas infrastructure and revealed future expansion plans.
ExxonMobil has poured almost $30 billion US dollars into Qatar’s gas projects since the 1990s, according to Senior Vice President Peter Clarke.
Clarke revealed in an interview with Qatari daily Asharq that the investments enabled the construction of 12 out of Qatar’s 14 gas facilities.
“We have also invested in 27 LNG vessels to transport Qatari gas…we also have important ventures with Qatar in the US, mainly Golden Pass Terminal,” Clarke said.
The Golden Pass Terminal, under construction in the US Gulf Coast, is a 70-30 joint venture between QatarEnergy and ExxonMobil.
Clarke confirmed that the first section, or ‘train,’ of the terminal is slated for completion in 2024, with additional trains to follow.
Earlier this year, QatarEnergy acquired stakes in two Canadian offshore exploration blocks from ExxonMobil.
The acquisition is part of QatarEnergy’s broader expansion plan, which has seen it become the world’s largest LNG producer.
QatarEnergy’s growth extends globally, with acquisitions in oil and gas basins in Guyana, Namibia, South Africa, and Cyprus.
Partners in these ventures include major energy companies like TotalEnergies and Shell. Most recently, QatarEnergy formed a consortium with TotalEnergies and Italy’s Eni to explore maritime blocks off Lebanon’s coast.
Qatar, already the world’s top LNG supplier, aims to increase its annual production to 126 million tonnes by 2027, up from its current 77 million tonnes, through its North Field expansion project.