Qatar Petroleum will invest $ 20 billion in the US energy sector


Doha: Qatar Petroleum revealed that they are thinking to make the investment of $ 20 billion over next 5 years in the US energy sector.

Qatar Petroleum would make the $ 20 billion investment in the US energy sector. However, the expected investment is for about next 5 years. CEO of Qatar Petroleum and minister of state for energy affairs, Saad al Kaabi, revealed the news at the Doha Forum.

He said that their country is looking to invest in the US oil and gas sectors and other unconventional resources. Saad al Kaabi said that North of $ 20 billion will be invested in US over next 5 years. However, the main aim is to revive the multi-billion dollar Golden Pass LNG terminal in the United States. Currently, Qatar Petroleum owns 70% of project and rest is possesses by ConocoPhillips and ExxonMobil.

Saad al Kaabi said that LNG production of Qatar will be increased by 16 million tonnes annually, with the aim to reach 110 million tonnes per year in 5 years.


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