Qatar Petroleum has set its capital expenditure over the next five year’s at a mammoth $82.5bn, equating to an average annual spend of $16.5bn. The figure is inclusive of the state energy giant’s subsidiaries and joint ventures, but even on a net basis the total of $59.1bn or an average of $11.8bn a year is an eyewatering figure.
The largest single component of this is the $28.75bn that Qatar is investing in the North Field East (NFE) expansion project to boost LNG export capacity from 77mn t/y to 110mn t/y by 2026 (MEES, 12 February), while the 15.6mn t/y Golden Pass Export Project in the US accounts for a further $10.7bn (MEES, 8 February 2019). (CONTINUED - 359 WORDS)
