RAS LAFFAN INDUSTRIAL CITY: The Emir H H Sheikh Hamad bin Khalifa Al Thani yesterday inaugurated RasGas’ sixth natural gas liquefaction train which places Qatar in a position of undisputed leadership in world LNG.
With a production capacity of 7.8 million tonnes of LNG per annum, RasGas Train 6 is one of the world’s largest LNG trains and belongs to a new generation of mega-trains.
When Train 6 came on line in July this year, it boosted RasGas’ overall LNG production capacity to approximately 28.5 million tonnes per annum (Mta). Train 6 LNG production helps ensure that Qatar will reach its target of producing 77 Mta by the end of 2010, about a third of the projected global market.
The mega-train forms part of RasGas’s Expansion Phase 2 Project (RGX2), the company’s multi-billion dollar expansion project to increase LNG production to approximately 37 Mta by the end of the decade with seven operating trains.
On the same high profile event attended by over 1,000 delegates from around the globe, including ministers, industry leaders and CEOs from the world’s leading energy companies RasGas, together with its major shareholders Qatar Petroleum (QP) and ExxonMobil celebrated the company’s 10 year LNG sales anniversary.
In his message to mark the occasion, Deputy Premier and Minister of Energy and Industry, H E Abdullah bin Hamad Al Attiyah, said: “Next year we will reach our target of producing 77 Mta and we are very proud that Qatar today is supplying three continents-Asia, Europe and North America.”
“Train 6 is a marvelous achievement and will make a significant contribution to Qatar’s economy. It’s the vision of His Highness the Emir, that we use our natural resources for the benefit of the country through education, health, infrastructure development and culture.”
Al Attiyah pointed out that RasGas on its record of supplying energy for 10 years not once has the company defaulted.
“RasGas’ customers are truly confident in its ability to deliver. Indeed, Qatar as a whole is now the biggest and most trusted supplier of LNG in the world,” he said.
Meanwhile, Minister of Economy and Finance and Chairman of RasGas, HE Yousuf Hussain Kamal said the production and sale of LNG has driven growth in the country’s gross domestic product (GDP) of more than 30 per cent per annum.
“The royalties, taxes and dividends generated by RasGas enable the sate to invest significantly in health, education, infrastructure and economic diversification,” he said.
Rex Tillerson, Chairman and CEO of ExxonMobil Corporation noted that the inauguration of Train 6 is a significant step forward in the development of natural gas from the North Field to serve US markets.
“Natural gas will be a key energy source for the United States for the foreseeable future, so imports of energy, including LNG from Qatar, will be needed to meet this demand,” he added.
According to H E Dr. Ibrahim B Ibrahim, Economic Adviser to the Emir and Secretary General of the General Secretariat for Development Planning, Vice Chairman of RasGas, the revenue generated by such investments as Train 6 is a tool to help Qatar realize the ambitious goal of becoming a developed country in the space of just 20 years.
“A successful LNG industry,” he added, “can encourage economic diversification and help us achieve the knowledge-based economy we are striving for.”
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