Qatar is about to launch a US$10-billion gas project in November

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Qatar is preparing to launch a new Barzan gas project this November, which is estimated at US$10 billion. It is believed that the project will increase the country’s daily output by up to 56 million cubic meters once capacity is reached in 2017. The plans are described in a material by Reuter.

The Barzan project is a joint venture between Qatar Petroleum and Exxon Mobil. The two countries decided to develop the Barzan offshore platform in the North Field in 2011. According to their plans much of the production is to go to the power and water sector.

The country’s energy demand has greatly increased due to Qatar’s huge infrastructure investments ahead of the 2022 FIFA World Cup and its expansion of the civil aviation industry. These factors made the country’s demand for refined oil products double in the past five years.

Recently Qatar has introduced a moratorium on new projects in the North Field in order to seek sustainability in output in the long run. The Bazran project was the last exception.