Qatar restarts development of world’s biggest gas field after 12-year freeze | Reuters
▻http://www.reuters.com/article/us-qatar-gas-idUSKBN175181
Qatar has lifted a self-imposed ban on development of the world’s biggest natural gas field, the chief executive of Qatar Petroleum said on Monday, as the world’s top LNG exporter looks to see off an expected rise in competition.
Qatar declared a moratorium in 2005 on the development of the North Field, which it shares with Iran, to give Doha time to study the impact on the reservoir from a rapid rise in output.
The vast offshore gas field, which Doha calls the North Field and Iran calls South Pars, accounts for nearly all of Qatar’s gas production and around 60 percent of its export revenue.
(...) “Iran’s gas production in South Pars can exceed Qatar’s before the end of new Iranian year (ending March 20, 2018),” Zanganeh was quoted as saying by Tasnim news agency on Thursday.
Total was the first Western energy company to sign a major deal with Tehran since the lifting of international sanctions.
Kaabi said the decision to lift the moratorium was not prompted by Iran’s plan to develop its part of the shared field.
“What we are doing today is something completely new and we will in future of course ... share information on this with them (Iran).”