Qatar's intention to withdraw from the Organization of the Petroleum Exporting Countries (OPEC) is linked to the country's desire to focus on gas extraction and liquefied natural gas (LNG) production, Saad Sherida Kaabi, the country's energy minister, said on Monda
DOHA (Pakistan Point News / Sputnik - 03rd December, 2018) Qatar's intention to withdraw from the Organization of the Petroleum Exporting Countries (OPEC) is linked to the country's desire to focus on gas extraction and liquefied natural gas (LNG) production, Saad Sherida Kaabi, the country's energy minister, said on Monday.
"Qatar has decided to withdraw from OPEC as it wishes to focus on the development of natural gas extraction and on bringing LNG production up to 110 million tonnes per year from the current 77 million tonnes per year," Kaabi said at a press conference.
Qatar announced earlier that it would launch four new LNG production lines before 2024, which would enable the country to boost its LNG production up to 110 million tonnes per year.
