Qatar Petrochemicals Industry - Gas Field Moratorium Restricting New ProjectsGlobalDataJanuary 31, 2012 5 Pages - SKU: GBDT6800759 |
| Countries covered: Qatar Qatar Petrochemicals Industry - Gas Field Moratorium Restricting New Projects Summary Qatar holds the world’s third largest natural gas reserves and is the largest exporter of liquefied natural gas (LNG). While these resources and government subsidies make the region attractive to petrochemical producers, a government ban on developing the region’s largest gas reserve has negatively affected planned petrochemicals projects. The government ban on the development of further projects in Qatar’s offshore North Dome gas field, which holds 900tcf of natural gas, comes on the back of the last decade’s high production rates. Production cost increases significantly during the ceasing period as pressure inside the wells had to be increased artificially to extract the gas. The process is expensive and the government has put current projects on hold, which is negatively impacting petrochemicals producers in the area. Scope
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