FINANCIAL NEWS

Qatar considers investment in Australian LNG

27 Feb 2012

(MENAFN) A Qatar Petroleum (QP) official said the company mulls investment in promising Australian liquefied natural gas (LNG) facilities, Reuters reported.

Australia is expected to surpass Qatar’s LNG output and take over its place as the world’s largest LNG exporter by 2020.

Australia currently is the fourth-largest LNG exporter and is already China’s biggest supplier, with liquefaction capacity projected to forecast to hit 100 million tonnes per annum (mta) by 2020.

Abdulrahman Al-Shaibi, director of finance at Qatar Petroleum, said that QP is considering investment in different types of projects.

He added that the company will be looking into multi-source financing to ensure sufficient funding.

The company is also considering raising domestic gas prices for feedstock gas, Shaibi said.

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