Qatar Petroleum targets to become the world’s largest producer of liquefied natural gas or LNG for the next two decades. The country in the Middle East will take advantage of the increasing demand for natural gas in line with the global transition from oil and coal to clean energy.
Its LNG capacity will increase by more than 50% to 126 million tons per year. Its main competitors are currently Australia and the United States. However, Qatar’s advantage is that its LNG production is cheaper, even when oil prices fall below US $20 per barrel.