WorldOil Qatar outlines plan to lead global LNG exports for the next 20 years Qatar will spend billions of dollars expanding its LNG capacity more than 50% to 126 million tons a year. The Persian Gulf state is already the world’s main supplier of the super-chilled fuel, but new projects elsewhere -- especially in Australia and the U.S. -- have eroded its dominance. Qatar builds its 2021 budget on $40 oil, below market projections The move will help Qatar “avoid negative economic consequences due to oil-price volatility,” Emir Sheikh Tamim bin Hamad Al Thani told members of the country’s legislative body, the Shura Council, on Tuesday. Honeywell to automate world’s largest LNG project The project includes the development of four new LNG mega-trains as well as associated facilities, and the production starting in 2025 will support the continued economic growth in Qatar. Natural gas investments to climb, despite present demand weakness Gas projects planned or under development in the region will require around $211 billion in investment between 2020 and 2024, Arab Petroleum Investments Corp. said Monday in a statement. Baker Hughes lands major LNG turbomachinery order from Qatar Petroleum The total award is part of four LNG “mega trains,” representing 33 million tons per annum (MTPA) of additional capacity, which will increase Qatar’s total liquefied natural gas (LNG) production capacity from 77 MTPA to 110 MTPA and help to propel the Gulf nation to global LNG production leadership by 2025. Fugro completes Phase 1 of site investigation contract for Qatargas North Field Fugro has completed the first phase of their multidisciplinary offshore site investigation for Qatargas’ North Field Production Sustainability’s Compression Phase. Qatar signs $20B vessel contract to cement LNG leadership role The Gulf emirate entered into agreements with Daewoo Shipbuilding and Marine Engineering Co., Hyundai Heavy Industries Co. and Samsung Heavy Industries Co., according to a statement on Monday from state producer Qatar Petroleum. OPEC+ proves its mettle by swiftly delivering oil production cuts Despite skepticism over the efficacy of the measures unveiled in mid-April by Saudi Arabia, Russia and their partners, compared to the immense hit to demand, the impact has been substantial. Oil prices have recovered by 60% in the past three weeks, as a pick-up in fuel use is complemented by the supply cuts. OPEC cuts Q2 demand estimates again while members make deeper cuts OPEC presented a bleaker assessment of global oil markets for the second quarter as the coronavirus crisis continues to drain demand, days after some of the cartel’s biggest producers pledged to make even deeper production cutbacks. Qatar positioned to risk an LNG battle that could mimic oil’s plunge Hemmed in by weak demand and scarce storage, the world’s biggest exporter of liquefied natural gas may soon face a stark choice: curb output or ignite a battle for market share that has the potential -- just as in the oil market -- to turn gas prices negative.