Qatar to spend $30bn on energy through 2014

28 July 2010

Qatar National Bank has said the country plans to spend QR111.7bn ($30.7bn) through 2014 on energy and industry projects, Bloomberg has reported. State-owned Qatar Petroleum has budgeted QR37bn for gas projects, QR24.5bn for industrial projects and QR24bn for oil projects, QNB said in its July Qatar Economic Review. Qatar will start two new liquefaction plants this year which will raise its annual LNG production capacity to 77 million metric tonnes from 54.3 million by the end of this year. The country will also boost oil production to 889,000 barrels a day from 798,000 barrels a day now by the end of next year, the bank said. Output capacity is forecast to reach 1 million barrel a day.

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