Gas strike in Russia: Qatar will increase its gas production

The Minister of energy and CEO of the state company Qatar Petroleum Saad Sherida al-Kaabi said that in the coming years in Qatar which is the world’s largest producer of natural gas, plans to increase production.

Газовый удар по РФ: Катар будет наращивать производство газа

It is reported by Hvylya, citing an Apostrophe.

It is emphasized that it promises for Russia new issues in the gas market.

According to him, many producers will have to curtail production due to low prices, however for Qatar, this scenario is excluded.

We are the most effective manufacturer in the world, in terms of costs and therefore can overcome market shocks”, – said al-Kaabi.

It is also reported that leaving the official data, Qatar Petroleum by 2025, plans to increase production by 1.5 times (up to 110 million tons) and about half by 2027 (up to 126 million tons).

It is emphasized that for Russia, this will result in new challenges for the European gas market, where prices have already fallen below the point of profitability of “Gazprom”. Thus, reduced gas pushes gradually the Russian. Moreover, the supply of “Gazprom” in the EU for January-April have fallen by 20%. Furthermore, Germany reduced purchases by 46%, and Turkey is 7 times.

According to experts, this year the average price of gas in Europe will be around 100-110 dollars per thousand cubic meters. In Europe, while in 2018 the market price of gas was $ 245 dollars.